In a press briefing yesterday, Transco president Alan T. Ortiz said the approval will allow the project to move forward after being stalled by more than one year.
"The ABC means that the bid can not exceed this proposed budget but it can be lower," Ortiz said, adding that the Transco board also approved the open access service guidelines.
Ortiz said the rules will be subject to Energy Regulatory Commission (ERC) approval and public consultations.
With the approval of the board, he said the bids could be opened by June 2003 and could be made effective in August 2003.
If the contract takes effect in September 2003, the 34-kilometer three-cable project is expected to be completed by December 2004.
Energy Secretary Vincent S. Perez said the Transco board also approved the electronic bidding for Leyte-Cebu project. The project will bring additional 200 MW to Bohol where a power shortage is expected to occur next year.
He said at least four firms have indicated interest in joining the bidding. "Four companies have obtained bid documents," he said.
As this developed, Perez announced the appointments of new vice presidents for Transco.
The Transco board, Perez said, named Roque Corpuz as senior vice president and chief operating officer. Corpuz was vice president for operation and maintenance for Luzon. The other VPs include: Rolando Bacani (systems operations) Alexander Cortez (human resources, administration and finance); Noel de Leon (general counsel); Nestor Enriquez (power systems reliability group); Dominador Geonzon (project management group); Venusto Hamoy (operations and maintenance for Visayas and Mindanao); Wilfredo Pangilinan (engineering design and construction); Guillermo Redoblado (operations and maintenance for Luzon); Rizalino Santos (market operations); and Gina Lourdes Valeros (corporate secretary). – Donnabelle Gatdula