Host communities of power plants in the country now have easier access to their financial revenue shares, thanks to new regulations issued by the Department of Energy (DOE).
On September 5, AboitizPower subsidiaries AP Renewables, Inc. (APRI) MakBan, Therma Mobile, Inc. (TMO), and SN Aboitiz Power (SNAP) signed a memorandum of agreement (MOA) with their respective beneficiaries on the revised provisions of Energy Regulations 1-94 (ER 1-94), introducing the direct remittance of financial benefits to host communities for their immediate utilization.
DOE Undersecretary Felix William B. Fuentebella urged the local government units involved in the signing ceremony to maximize their financial benefits from ER 1-94.
“Ipagkalat n’yo sa mga kababayan n’yo na ang laki ng benepisyong nakukuha n’yo sa pag-host ng power plants. You’re operating (a business) na kilowatt-hour ang benta. Wag po kayong papayag na may matumbang poste dahil hihina po ang kita n’yo,” Fuentebella said in a speech.
Through DOE Department Circular 2018-08-0021, power generation companies can now directly download the ER 1-94 fund to their host communities. Streamlining the release of funding will ease the process of implementing projects that benefit the host communities.
APRI MakBan, TMO, and SNAP are set to turn over to their host communities P26.6 million, P1.3 million, and P10.5 million, respectively.
In 2018, AboitizPower generated P171 million ER 1-94 funds based on the total attributable energy sales of its various generation facilities across the Philippines. The funds will soon be turned over to its other communities all over the country.
“Today’s event is a prime example of real partnership and teamwork between AboitizPower, our local host communities, and the Department of Energy. I am sure our partnership and collaboration will not end here. There are still a lot of things that we can do, and a lot of things that we can achieve when we work together,” AboitizPower Chief Operating Officer Emmanuel V. Rubio said. (PR)