Napocor marketing and commercial department head Maharlika O.A. Ferina said the company has 125 customers which include distribution utilities and big electric cooperatives (ECs).
Of the 125, he said 39 have agreed to sign a supplemental memorandum of agreement (SMOA) instead of TSC. Ferina said they are working out 18 more TSCs with DUs and ECs. Of the 18, at least three contracts– Central Negros Electric Cooperative and Bohol Light and Power and Subic Bay Metropolitan Authority (SBMA) – are already being processed.
SMOAs, bilateral agreements similar to that of TSCs. The only difference, he said, is the timeframe. "In TSC, we have to come up with a contract not later than June 2005 unlike the SMOA wherein we can still enter into an agreement beyond 2005," he explained.
Under the power bill, PSALM is supposed to file with the ERC for approval TSCs duly negotiated with the distribution utilities within six months from the effectivity of the act or in December 2001.
The ERC earlier said they have given Napocor up to September 2002 to file the TSCs with DUs. – Donnabelle Gatdula