Tuesday, October 13, 2015

Philippines: Unified Leyte Geothermal Energy Contracts for 7 Year 5 MW Power Supply

VECO taps EDC subsidiary for power supply (BusinessWorld)

Power distributor Visayan Electric Co. (VECO), jointly owned by Aboitiz Power Corp. and Vivant Corp., has tapped a subsidiary of Energy Development Corp. to provide a portion of its supply needs.

The Energy Regulatory Commission (ERC) said VECO and Unified Leyte Geothermal Energy, Inc. (ULGEI) have sought regulatory approval for their power supply agreement (PSA).

Under the deal, ULGEI should sell and deliver 5 megawatts (MW) of power from ULGEI’s geothermal power plant at a generation payment rate of P4.6629 per kilowatt-hour (/kWh).

The PSA will have a period of seven years, the order stated.

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