P40-M monthly savings seen in Clark ecozone
As a result of ERC’s approval of reduced power rates
CLARK ZONE, Pampanga —_ The Clark Special Economic Zone will save at least P40 million every month this year as a result of the approval by the Energy Regulatory Commission (ERC) of the request of Clark Development Corp. (CDC) to further reduce power rates.
CDC President Levy P. Laus said that the reduced power rates approved by the ERC would make Clark more attractive to local and foreign investors this year.
Clark power rates were first reduced in 2005.
Laus said that the ERC approval of the National Transmission Corporation (TransCo) discount of P.25 per kilowatt hour for Clark has brought down further the power rate in Clark to about P5.33 per kilowatthour compared to the October 2006 rate of P5.58 per kwh. The new rates took effect on Dec. 15, 2006
Laus said the reduced rates translate to an approximate savings of P0.63 million a month to an individual locator that consumes the highest power load in Clark, and P4.4 million total savings per month for the ecozone in November and December 2006.
If Clark’s rate is compared with the current rate of P7.63 per kwh rate of Angeles Electric Corp., the ecozone would generate savings of P5.84 million a month to the individual highest power consumer in Clark, and P40.33 million a month as savings for the entire economic zone, Laus said.
"This further reduction in cost was made possible through the leadership and personal involvement of ERC Chairman Rodolfo Albano in ensuring the approval of our power reduction petition," Laus said.
He said that "Chairman Albano brought with him last Nov. 10 a complete ERC legal, technical, and administrative team to ensure all necessary details with regard to the application are clarified."
Also present during the public hearing were Clark Investors and Locators Association (CILA) chairman Jonathan Rosenberg and CILA president Francisco Villanueva, Clark-PLDT Manager Lito Mercado, Clark Electric Chief Operating Officer Radito Tuazon, CDC Chief Legal Counsel Jose Cornelio Lukban, Angeles Electric Corp. owners Peter and Jerry Nepomuceno and other ERC officials.
The ERC approval of Clark rates was a precedent becausee ERC hearings on rate approvals normally take months before an order is issued. In fact, Subic Enerzone filed the same petition about four months in advance, but ERC has yet to issue a decision on the petition, he said.
Clark power rate is also much lower than those in other economic zones such as Mactan Export Zone and Cebu Light Industrial Park with P6.03 per kwh rate. Manila Electric Corp. (Meralco) charges P6.83 per kwh in commercial areas and P7.23 in residential areas.
With the lowering of utility rates, Clark has become one of the most affordable prime economic zones in the country without sacrificing the quality of investment atmosphere in the former US-run military facility. _This is in fulfillment of President Arroyos 10-point agenda for the development of Subic-Clark growth corridor,_ Laus said. (Fred M. Roxas - Manila Bulletin)
CLARK ZONE, Pampanga —_ The Clark Special Economic Zone will save at least P40 million every month this year as a result of the approval by the Energy Regulatory Commission (ERC) of the request of Clark Development Corp. (CDC) to further reduce power rates.
CDC President Levy P. Laus said that the reduced power rates approved by the ERC would make Clark more attractive to local and foreign investors this year.
Clark power rates were first reduced in 2005.
Laus said that the ERC approval of the National Transmission Corporation (TransCo) discount of P.25 per kilowatt hour for Clark has brought down further the power rate in Clark to about P5.33 per kilowatthour compared to the October 2006 rate of P5.58 per kwh. The new rates took effect on Dec. 15, 2006
Laus said the reduced rates translate to an approximate savings of P0.63 million a month to an individual locator that consumes the highest power load in Clark, and P4.4 million total savings per month for the ecozone in November and December 2006.
If Clark’s rate is compared with the current rate of P7.63 per kwh rate of Angeles Electric Corp., the ecozone would generate savings of P5.84 million a month to the individual highest power consumer in Clark, and P40.33 million a month as savings for the entire economic zone, Laus said.
"This further reduction in cost was made possible through the leadership and personal involvement of ERC Chairman Rodolfo Albano in ensuring the approval of our power reduction petition," Laus said.
He said that "Chairman Albano brought with him last Nov. 10 a complete ERC legal, technical, and administrative team to ensure all necessary details with regard to the application are clarified."
Also present during the public hearing were Clark Investors and Locators Association (CILA) chairman Jonathan Rosenberg and CILA president Francisco Villanueva, Clark-PLDT Manager Lito Mercado, Clark Electric Chief Operating Officer Radito Tuazon, CDC Chief Legal Counsel Jose Cornelio Lukban, Angeles Electric Corp. owners Peter and Jerry Nepomuceno and other ERC officials.
The ERC approval of Clark rates was a precedent becausee ERC hearings on rate approvals normally take months before an order is issued. In fact, Subic Enerzone filed the same petition about four months in advance, but ERC has yet to issue a decision on the petition, he said.
Clark power rate is also much lower than those in other economic zones such as Mactan Export Zone and Cebu Light Industrial Park with P6.03 per kwh rate. Manila Electric Corp. (Meralco) charges P6.83 per kwh in commercial areas and P7.23 in residential areas.
With the lowering of utility rates, Clark has become one of the most affordable prime economic zones in the country without sacrificing the quality of investment atmosphere in the former US-run military facility. _This is in fulfillment of President Arroyos 10-point agenda for the development of Subic-Clark growth corridor,_ Laus said. (Fred M. Roxas - Manila Bulletin)
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