LAOAG CITY, Ilocos Norte (PIA) – The Ilocos Norte Electric Cooperative (INEC) entered into a one-year Emergency Power Supply Agreement (EPSA) with GNPower Dinginin Ltd. Co. (GNPD) to ensure a power supply of up to 51 megawatts for the province.
The ceremonial signing was led by the executive management of INEC led by Acting General Manager Cipriano Martinez III and Lawyer Rex Vincent Riveral, president of the board of directors; as well as the representatives from GNPD, Ronald Gutierrez, sales manager, and Florence Aguilar, power marketing officer.
It was held at the electric cooperative’s main branch in Dingras town.
“This emergency power supply agreement will safeguard the welfare of our power consumers in the province,” said Martinez in a press briefing.
According to the acting general manager, the electric cooperative has enhanced its readiness in power supply through a reinforced partnership with Aboitiz Power Corporation, which has an indirect partnership agreement for the GNPD through its subsidiary, Therma Power Inc.
Under the agreement, the power supply has a baseload of capacity of 35 MW with a contracted price of P6.75 per kilowatt-hour. INEC is entitled with a P0.10 discount if the bill is settled promptly.
GNPD is considered one of the largest coal-fired power plant in the country.
“Fixed yung rate natin. Dati, kung tumataas ang presyo ng coal, tumataas din ang rate natin. Dahil fixed ang ating rate, kahit tumaas yung coal price sa market, P6.75 pa rin ang rate natin,” Gutierrez explained.
Moreover, GNPD is currently in the process of securing a long-term power agreement with the province’s electric cooperative while adhering to government rules and regulations. (JCR/MJTAB PIA Ilocos Norte)
EPSA SIGNING. INEC and Aboitiz executives led the ceremonial signing of the Emergency Power Supply Agreement. (MJTAB)
INEC-ABOITIZ. Some INEC directors witnessed the signing of the Emergency Power Supply Agreement between INEC and Aboitiz. (MJTAB)
