Visayan Electric defers some projects to 2022

Ehda M. Dagooc (The Freeman ) - May 21, 2020 - 12:00am
https://www.philstar.com/the-freeman/cebu-news/2020/05/21/2015464/visayan-electric-defers-some-projects-2022

CEBU, Philippines — Taking into consideration a challenging year 2020, the Visayan Electric Company Inc., is setting aside some projects initially scheduled for implementation this year.

“We will scale down and defer some projects scheduled to be implemented this year,” Visayan Electric president and chief operating officer, Engr. Raul C. Lucero told stakeholders during its Annual Stockholders Meeting conducted via online.

According to Lucero, among the major projects that the company will defer this year, include; Land acquisition of the proposed Lahug and Tayud substations; the additional power transformers for Cebu substation, Subangdaku substation and Mambaling substation.

The Underground Distribution System for SRP and the Naga–Sibonga 69kV line will also have to take a backseat reducing 50 percent of the rural electrification project.

“We will also defer the purchase of 5T Digger truck,” he added.

Just like other companies, Visayan Electric also considered 2020 as the most challenging year, as its type of business is one of the essentials.

About 67 percent of Visayan Electric’s employees are on WFH (work from home) set up, while maintaining skeleton operations in the office.

On the other hand, there are projects that cannot be postponed such as the connection of meters to residential and power customers.

“We will do the maintenance on 9 substations. We will continue the maintenance of Primary and secondary lines. We will purchase tools and equipment needed to do the maintenance works. So most the works we will do this year are maintenance of our Distribution Network,” he further enumerated.

“We have deferred expansion projects to 2022 and 2023,” Lucero added.

Visayan Electric, which is owned and managed by the Aboitiz Power Corporation and Vivant Corporation logged a total of customer-base of 450,087 in 2019, a 2.8 percent increase from 2018.

In 2019, Visayan Electric recorded a net income of P2.26 billion, from P2.07 billion it generated in 2018.

Visayan Electric is the second largest electric utility in the Philippines. It serves the cities of Cebu, Mandaue, Talisay and Naga and the municipalities of Liloan, Consolacion, Minglanilla and San Fernando.