Aboitiz, San Miguel leading power generators in Ph on January 18, 2021 at 4:01 pm
Aboitiz Power Corporation remains the country’s top power generating firm, closely followed by San Miguel Corporation, based on the latest data from the Department of Energy (DOE).
The DOE, in its 37th Electric Power Industry Reform Act (EPIRA) Implementation Status Report, said that AboitizPower has the largest market share in terms of generating capacity nationwide from May to October 2020, with 4,973 megawatts (MW) or 21.2% of the 23,410MW total installed capacity. San Miguel followed with 4,856MW or 20.7%. Lopez-run First Gen Corporation came in at third with 3,568MW or 15.2%.
On a per grid basis, San Miguel is Luzon’s biggest power generator with 4,556MW (28.4%) of the 16,044MW total capacity, followed by AboitizPower at second with 3,402MW (21.2%), and First Gen at third with 2,518MW (15.7%).
TAGUIG, Jan. 16 The Department of Energy (DOE), on instruction of Secretary Alfonso G. Cusi, convened the Energy family and the various power generation companies (GenCos) on Tuesday (12 January), to assess the power situation in Luzon and ensure that there will be enough supply, especially during the summer months.
The three-hour meeting, which was organized by the Electrical Power Industry Management (EPIMB) Bureau headed by Undersecretary Emmanuel P. Juaneza, discussed the anticipated issues relative to ensuring sufficient power capacities in the Luzon Grid.
Undersecretary Juaneza, in his opening statement, cited the need to have sufficient power supply and prevent power outages that inconveniences the consumers and disrupts business operations during the country’s recovery from the effects of the pandemic.
Energy Assistant Secretary Redentor E. Delola has called the attention of the generation companies (GenCos) on “a lot of plant outages in the past few weeks.” At this rate, Delola is not optimistic of a brownout-free summer season.
“Considering the existing maintenance schedules of plants, we may have to realign our activities for the year to ensure the level of sufficient supply,” he said, adding that some of the plant downtimes could stretch into the summer.
The DOE does not see an encouraging power supply system, especially given forecasts of economic recovery this year.
And for that, the DOE summoned the power firms this early so they can sort out preparations in the entire supply chain before demand would pick up during the hotter months.
SN Aboitiz-Benguet secures Php18B loan refinancing on January 12, 2021 at 10:36 pm
SN Aboitiz Power-Benguet, Inc. (SNAP-Benguet) said it has raised Php18billion in unsecured notes from BDO Unibank and Bank of the Philippine Islands (BPI) to refinance its loans and support the company’s other needs.
The proceeds were mainly used to prepay in full SNAP-Benguet’s US Dollar- and Peso-denominated senior project loans to International Finance Corporation (IFC), Nordic Investment Bank (NIB), BDO, and BPI, according to a disclosure to the Philippine Stock Exchange by Aboitiz Power Corporation, SNAP-Benguet’s parent firm.
SNAP-Benguet, a joint venture between AboitizPower and SN Power AS of Norway, acquired the then 175 MW Ambuklao-Binga Hydroelectric Power Plant for US$325 million through a competitive bidding conducted by the Power Sector Assets and Liabilities Management Corporation in November 2007.
Republic Act No. 11371, or known as the Murang Kuryente Act, was signed by President Rodrigo Duterte on August 8, 2019, and became effective fifteen (15) days after its publication in the Official Gazette on August 23, 2019.
Under that law, electricity consumers will not pay the stranded debts and stranded contract costs of the National Power Corporation and its successor, the Power Sector Assets and Liability Management Corporation.
Consumers at the moment pay in their electricity bill the stranded debts of four centavos per kwh, and for the rest of the corporate life of PSALM , another estimated eighty six centavos per kwh.
Exactly a year ago, Laban Konsyumer Inc. filed a Petition with the Energy Regulatory Commission to immediately implement the law and stop PSALM from passing on to the consumers all forms of stranded debts and costs to the consumers. This Petition is pending resolution.