PUERTO PRINCESA CITY, Palawan (PIA) — The Palawan Electric Cooperative (PALECO) plans to submit its Capital Expenditure (CapEx) plan to the Energy Regulatory Commission (ERC) before the year ends after finalizing projects to include in the plan for 2023–2027.
Peter Vincent Mendoza, corporate planning division chief, said during the 4th quarter press conference that PALECO has already filed an initial plan and has an ongoing exchange of discussions with ERC to comply with all needed requirements.
ERC approval is necessary to ensure funding for the projects and avoid any impact of the plan on the financial capacity of PALECO as well as on MCOs.
“Kailangan natin ipa-approve sa ERC dahil itong CapEx plan para maisama natin sa investment fund—Iyon ang tinatawag natin na multi-year CapEx plan, fina-finalize na namin ‘yong final projects na i-include namin, and for submission na sa ERC,” he said.
During the 41st general assembly, the member-consumer-owners (MCOs) agreed on the adoption of the P1.1 B CapEx for 2023–2027.
The funding will support some major projects, including the construction of substations, the improvement of power distribution infrastructure, and additional transmission lines.
Mendoza added that General Manager Engr. Rez Contrivida instructed them to ensure that CapEx will not have any rate impact on MCOs.
“Maconsider lang siya sa kung ano ang approved investment rate natin. Iyon ang sinisiguro natin na hindi magkakaroon ng impact sa ating MCOs dahil sobrang dami na ng increases na ini-implement,” he said.
Mendoza further explained that PALECO has three CapEx plans filed with the ERC. It includes the emergency CapEx to interconnect Barangay Rio Tuba in the PALECO line, the force majeure CapEx for the assets affected by super typhoon Odette, and the five-year CapEx.
PALECO is now just waiting for the decision after the public hearing, while the force majeure CapEx has already filed with the ERC and is now in the legal process as PALECO waits for the schedule of the public hearing.
“Ang finalization namin ng project ay this week. Hopefully by next week ay maka-update kami sa ERC, ang CapEx projects na ito, multi-year ay hindi talaga ganon kadali—medyo naantala lang ‘yong ating multi-year dahil nagkaroon tayo ng emergency CapEx at force majeure,” he added. (RG/PIA Mimaropa – Palawan)
