P5-m collectible from energy firms electric revenue is for Misor’s devt

By Shiela Mae Butlig
Correspondent . 

Misamis Oriental provincial government is expecting a five million electric revenues coming from the remittances of the energy companies here.

Thus, said Misamis Oriental provincial administrator Jocelyn Mateo-Lood in departmental press briefing Tuesday.

“In every kilowatt hour nga ma produce aning mga energy producing companies, naay share ang province ana,” says Lood.

Lood said the revenues coming from these energy producing companies in the province has been remitted to the Department of Energy (DOE) and the DOE will gave it to the province but now according to Lood  that they will to make a Memorandum of Agreement (MOA) from these energy companies that they will directly be remitting to the province.

“For them to do it is they will open a trust fund where the companies can directly deposit their 30% revenue to the province which will be used for the province’s development,” Lood explained.

She said that they are now waiting for the Implementing Rules and Regulation (IRR) coming from the DOE as their go signal that they can already open a trust fund for a direct transaction between the province and the energy companies.

In the law as cited by Lood  ER-194 “25% of one centavo per kilowatt hour energy produced  is intended for development and livelihood fund of where the company is situated and twenty five percent of one centavo is for Reforestation , watershed management , health and environment enhancement .

By this, the community can receive 5% from the energy companies electric revenue, the host barangay can have 20%, the host municipality has 25% , the host province has 30% , the host IP’s has 5 % and the host region also have 5%.

“So far the energy companies here in MisOr is keen on remitting their electric revenue to the province and they have no problem with it for they are very supportive to the governor’” said Lood .

Lood added that the estimated 5 million that will be collected will be used for the development of the province.

“The developed in Agutayan white island of Jasaan is out of the proceeds coming from the revenues of these energy companies,” Lood said, adding, “ P5 million atong estimate pero madugangan pa ni sya.”