Power Sector Assets and Liabilities Management Corp. will review the request of Manila Electric Co., the Philippine Economic Zone Authority and power-intensive industries to retain the power rate discount inside the ecozones.
“We have to consult PSALM because we are no longer in control of the capacities. So that there will be no complexities. We need to [discuss it with PSALM board], National Power Corp. president Froilan Tampinco told reporters. The rate discount will expire in December this year.
Meralco, Peza and the Semiconductor and Electronics Industries in the Philippines Inc. sent separate letters to Napocor asking the state-owned company to extend the lower rates until December next year.
A rate agreement between Meralco and Napocor will end simultaneously with their transition supply contract on Dec. 25, 2011.
“We will need to consult with PSALM on this matter to avoid possible complexities. But we hope to come out with a decision on their request before the deadline lapses on December,” he said.
Tampinco said he understood the need to provide discounts to industries to make them competitive.
Energy Secretary Jose Rene Almendras said the government was studying the request to extend the ecozone rate program.
Napocor and Meralco agreed to provide the special rate to Peza-accredited industries in 2007. The special rate offers a discount of as much as P1 per kilowatt-hour to industries operating within the ecozones.
“Our industry would like to request for the extension of the said ecozone rate program until December 25, 2012, to coincide with Meralco’s requested extension of the TSC. The semiconductor and electronics industry had just started to recover from a two-year downturn brought about by the global financial crisis,” Ernie Santiago, Seipi president said in his letter to Napocor.
http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/october/29/business3.isx&d=2011/october/29
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