TransCo asset sale totals P2.5B with 3 new deals
Specifically, TransCo signed separate sale STA contracts with Zambales II Electric Cooperative (Zameco II)
By DONNABELLE L. GATDULA
The Philippine Star
State-run power grid operator National Transmission Corp. (TransCo) recently sold three more of its subtransmission assets (STAs) worth a total P138.92 million.
Since the start of the STA divestment program in 2004, TransCo has so far disposed of some P2.5 billion worth of STAs.
Specifically, TransCo signed separate sale STA contracts with Zambales II Electric Cooperative (Zameco II), Batangas I Electric Cooperative (Batelec I) and Surigao del Norte Electric Cooperative (Surneco).
To date, a total of 320-megawatt-ampere transformers, 16,947 structures, and 1,845 circuit kilometers of lines have been divested to 42 technically and financially qualified distribution utilities nationwide.
Subtransmission assets include lines typically rated at 69-kilovolts and facilities directly connected to distribution utilities.
TransCo president Arthur N. Aguilar said the divestment of subtransmission assets is part of the company’s efforts to pursue power sector improvements as mandated by the Electric Power Industry Reform Act (EPIRA) of 2001.
"Power customers in North Luzon, South Luzon and Mindanao are the ones who stand to benefit greatly from the privatization of the subtransmission assets.
By purchasing and committing to operate and maintain these assets, these electric cooperatives have assured customers of improved operations and expansion projects under their franchise areas," Aguilar said.
"TransCo, on the other hand, will be able to focus more on improving the reliability and efficiency of the nationwide high-voltage transmission network," he added.
The contracts with Zameco II, Batelec I, and Surneco are valued at P55.7 million, P66.9 million, and P16.3 million, respectively.
Under TransCo’s lease purchase financing program, technically and financially qualified electric cooperatives are required to pay only 20 percent of the selling price upon the approval of the contract by the Energy Regulatory Commission (ERC).
The EPIRA provides that the subtransmission assets shall be operated and maintained by TransCo until their disposal to financially and technically qualified distribution utilities. The sale of TransCo’s subtransmission assets involves 120 sale packages for 107 interested distribution utilities, mostly electric cooperatives.
TransCo’s P8.8 billion worth of subtransmission assets nationwide cover 6,900 circuit kilometers of mostly 69-kv lines and 1,600 MVA of substation capacity.
"We encourage other qualified electric cooperatives and private utilities to acquire our subtransmission lines. Let us work together to give better service to power consumers all over the country," Aguilar said.
By DONNABELLE L. GATDULA
The Philippine Star
State-run power grid operator National Transmission Corp. (TransCo) recently sold three more of its subtransmission assets (STAs) worth a total P138.92 million.
Since the start of the STA divestment program in 2004, TransCo has so far disposed of some P2.5 billion worth of STAs.
Specifically, TransCo signed separate sale STA contracts with Zambales II Electric Cooperative (Zameco II), Batangas I Electric Cooperative (Batelec I) and Surigao del Norte Electric Cooperative (Surneco).
To date, a total of 320-megawatt-ampere transformers, 16,947 structures, and 1,845 circuit kilometers of lines have been divested to 42 technically and financially qualified distribution utilities nationwide.
Subtransmission assets include lines typically rated at 69-kilovolts and facilities directly connected to distribution utilities.
TransCo president Arthur N. Aguilar said the divestment of subtransmission assets is part of the company’s efforts to pursue power sector improvements as mandated by the Electric Power Industry Reform Act (EPIRA) of 2001.
"Power customers in North Luzon, South Luzon and Mindanao are the ones who stand to benefit greatly from the privatization of the subtransmission assets.
By purchasing and committing to operate and maintain these assets, these electric cooperatives have assured customers of improved operations and expansion projects under their franchise areas," Aguilar said.
"TransCo, on the other hand, will be able to focus more on improving the reliability and efficiency of the nationwide high-voltage transmission network," he added.
The contracts with Zameco II, Batelec I, and Surneco are valued at P55.7 million, P66.9 million, and P16.3 million, respectively.
Under TransCo’s lease purchase financing program, technically and financially qualified electric cooperatives are required to pay only 20 percent of the selling price upon the approval of the contract by the Energy Regulatory Commission (ERC).
The EPIRA provides that the subtransmission assets shall be operated and maintained by TransCo until their disposal to financially and technically qualified distribution utilities. The sale of TransCo’s subtransmission assets involves 120 sale packages for 107 interested distribution utilities, mostly electric cooperatives.
TransCo’s P8.8 billion worth of subtransmission assets nationwide cover 6,900 circuit kilometers of mostly 69-kv lines and 1,600 MVA of substation capacity.
"We encourage other qualified electric cooperatives and private utilities to acquire our subtransmission lines. Let us work together to give better service to power consumers all over the country," Aguilar said.
posted by OlongapoCity Zambales at
2:21 PM
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