^

Business

Funds lack delays M’danao power spot mart

Donnabelle L. Gatdula - The Philippine Star

MANILA, Philippines - The implementation of an interim electricity market (IMEM) in Mindanao will be delayed anew due to budget constraints, the country’s top energy official said.

Energy Secretary Carlos Jericho Petilla said the IMEM was supposed to take off late last year but was moved again to March this year as they await the budget to be approved by the power regulators.

Philippine Electricity Market Corp. (PEMC), a government-run company which operates the country’s electricity spot market, has a pending petition with the Energy Regulatory Commission (ERC) to allocate about P34.3 million of its budget to finance the IMEM operations.

But Petilla said the ERC has yet to rule on PEMC’s petition.

“The funds are there with PEMC to commence with the infrastructure, the problem is we can’t touch it because we don’t have any ERC approval yet,” he said.

A further delay in IMEM implementation would likely aggravate the power supply shortage in Mindanao.

IMEM, as envisioned by the DOE, would help alleviate the power gap in the region.

“We have stressed to ERC and I’m quite sure they’re also aware of the problem of Mindanao and even they are assuring PEMC that they will prioritize the ERC approval of the budget. The money is already there, what we’re asking is a go signal to touch it,” Petilla said.

The DOE earlier said the planned electricity market can add more than 350 megawatts (MW) of available output in electricity-starved Mindanao.

 

vuukle comment

BUDGET

BUT PETILLA

ELECTRICITY

ENERGY REGULATORY COMMISSION

ENERGY SECRETARY CARLOS JERICHO PETILLA

ERC

IMEM

MINDANAO

PETILLA

PHILIPPINE ELECTRICITY MARKET CORP

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with