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APEC terminates credit guarantee for ALECO power purchase

LEGAZPI CITY, ALBAY (PIA) -- The Albay Power and Energy Corporation (APEC) has announced the termination of provision of credit guarantee for the purchase of electricity at the Wholesale Electricity Spot Market (WESM) under ALECO account.

"Please be informed that beginning 00:01 of September 4, 2022, APEC will no longer provide any form of credit guarantee for the WESM purchases under the ALECO account," APEC General Manager COO Apo Alvarez stated during the emergency press conference today.

Alvarez said the action is in response to the cancellation of the concession agreement between APEC and ALECO as voted by member-consumers-owners at the Special General Membership Assembly on September 3, 2022.

Reimbursement for upgrades and investments

"Di naman namin ipipilit ang sarili namin kung ayaw na sa amin ng mga taga-Albay pero ang concern lang namin, mareimburse o mabayaran sa lahat ng inadvance at ininvest namin," he said.

"With the due consideration to such resolution and to provide NEA and ALECO the opportunity to procure power supply for their own account," he added.

The termination of credit guarantee includes other suppliers such as San Miguel Electric Coop (SMEC).

"For the past eight years, hindi po tayo naputulan ng power supply dahil ginagarantiyahan ng APEC," he said.

Alvarez said APEC has likewise requested the Independent Electricity Market Operator of the Philippines (IEMOP) to return and release the prudential guarantees provided by APEC to secure the WESM Account of ALECO, within three (3) days from the receipt of the formal request in writing.

Power blackout

Alvarez said there might be a possible blackout in the province in case of failure to pay the consumed power supply.

"Kapag hindi nagbayad ang mga konsumidores sa Albay sa kinukunsumo nilang kuryente at patuloy pa rin na magnakaw, yung ating system loss ay napakalaki at walang pambayad. Pwedeng putulan tayo ng IEMOP," he said.

"Gagawin pa din namin ang aming tungkulin bilang distribution utility. Kung di kayo magbabayad ng kuryente, puputulan namin kayo. Pero sa sitwasyon na ito, doble, tripleng panawagan, magbayad po kayo. Dahil ang masisingil, yun lang ang ibabayad sa WESM. Pag yan ay kulang, damay po tayo," he added.

"Moving forward, ALECO will purchase power supply from the WESM under its own account. ALECO will be billed directly for all purchases from the WESM to be supplied to its franchise area," Alvarez said.(PIA5/Albay)

About the Author

Sally Altea

Writer

Region 5

"He provides. Everything is in His hands."

Information Center Manager of the Philippine Information Agency - Albay

 

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