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Bacolod City, Philippines Friday, October 3, 2014
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EDC offers Neg. Occ.
lower power rates, too

The Energy Development Corp. is set to offer the same lower power rate benefits to the electric cooperatives in Negros Occidental that it has to those in Negros Oriental, Ramon Diaz de Rivera, EDC Marketing and  Sales Group Manager, said last night.

Negros Occidental Gov. Alfredo Marañon Jr. said yesterday that he would  lobby with EDC officials  for lower power rates in Negros Occidental.

On Wednesday, Negros Occidental Board Member Miller Serondo also asked that EDC offer Negros Occidental the same benefits it was offering Negros Oriental.

EDC joins the call of the provincial officials for lower power rates in Negros Occidental, Diaz de Rivera said in response.

“We are all set to offer the same benefit of a power rate reduction to CENECO (Central Negros Electric Cooperative), NONECO (Northern Negros Electric Cooperative) and NOCECO (Negros Occidental Electric Cooperative),” he said.

This is on top of the clean, renewable and reliable power that we have been providing to the Negrenses, he added.

Last week, the EDC  offered a drop of about 30 centavos per kwh from their present rate to the Negros Oriental Electric Cooperatives I and II.

“We would like to clarify that the rate reduction afforded to NORECO I and NORECO II was part of the re-pricing provision in their power supply agreements with Green Core Geothermal Inc. (GCGI),” Diaz de Rivera said.

GCGI  operates the Palinpinon and Tongonan geothermal power plants in Negros and Leyte, he said.

GCGI confirmed that its Power Sales Agreements (PSAs) with the Negros Occidental electric cooperatives contain the same re-pricing provision, he said.

While their re-pricing provision only starts in 2015 - 2016, GCGI is open to exercising this provision at an earlier time period  to allow CENECO, NONECO and NOCECO's member consumers to enjoy the same benefit, he added.

GCGI aims to meet with CENECO officials to discuss this next week, he said.

He said  the repricing has nothing to do with their new  49.4 MW  Nasulo geothermal power  plant in Valencia, Negros Oriental.

“Others have that misconception. It’s really about providing our customers the best power option,” he said.*CPG



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