The Ilocos Norte Electric Cooperative (INEC) formally signed a one-year emergency power supply agreement (EPSA) with Therma Luzon, Inc., which operates under Aboitiz Power Corp., to stabilize and secure the province’s power supply during summer, officials announced Tuesday.
INEC General Manager Cipriano Martinez III said the additional 10-megawatt EPSA aims to ensure supply stability up to a maximum of 70 megawatts.
“This emergency power supply agreement is meant to mitigate power crisis. This will safeguard our member consumer owners in the province,” Martinez said in a press conference following the signing at the INEC main branch in Dingras.
He reported that INEC and top local government officials met earlier Tuesday to implement proactive measures in anticipation of the global energy crisis impact.
Jeremiah Padilla, senior vice president of Aboitiz Power, said the deal is competitive for the benefit of consumers and that talks are ongoing for a long-term power agreement with INEC in compliance with government regulations.
Martinez said the rate is guaranteed at about PHP5.70 per kilowatt-hour with a discount for prompt payment.
“This is the best thing so far that we can do, and we hope this will alleviate the problem,” he said.
By Leilanie Adriano(PNA)