Panay Energy to sell power at P5.05/kwh

MANILA, Philippines - Panay Energy Development Corp. (PEDC), a subsidiary of Metrobank Group’s Global Business Power Corp. (GBPC), will be selling the power to be generated by its 150-megawatt power plant starting July 2016 at P5.05 per kilowatt-hour.

The company is offering the rate to Visayas electric cooperatives belonging to the Panay-Guimaras Power Supply Consortium (PPSC) for a contract period of 20 years.

Wilfred Billena, president of PPSC and general manager of the Iloilo Electric Cooperative (ILECO), said no other supplier matched the P5.05 per kwh offer of PEDC under the Swiss Challenge procurement process.

Global Business Power executive vice president Jaime Azurin said electricity consumers in the Visayas would be able to save on costs due to the company’s lower generation rate.

“Given the power generators’ average rate of P5.30 per kwh in the Visayas, a household with 200 kwh consumption can save P50 per month with PEDC’s rate of P5.05 per kwh. For an electric cooperative, this translates to P180,000 per megawatt per month savings,” Azurin said.

For the company’s 31-MW requirement, total savings would be P5.58 million, he added.

PPSC is a consortium composed of ILECO I, II, and III, Antique Electric Cooperative, Aklan Electric Cooperative, Capiz Electric Cooperative; and Guimaras Electric Cooperative. It plays a vital role in ensuring ample and affordable power supply in the Panay-Guimaras area.

Through PPSC, cooperatives are able to negotiate for better prices and supply of electricity in the Panay-Guimaras with independent power producers.

Global Power said it is committed to provide adequate, reliable and cost efficient power to the Visayas.

“With the construction of the new 150 MW plant, PEDC fulfills its commitment to address the growing electricity demand of its existing clients,” it said.