New firm takes over Subic power service

TARLAC CITY — A newly-formed consortium of the Aboitiz group of companies recently took over the operations of the electric power systems of the Subic Bay Freeport Zone, the national government agency overseeing investment and economic activities in Central Luzon said.

According to the Presidential Commission for the Central Luzon Growth Corridor (PCCLGC), the Subic Bay Metropolitan Authority (SBMA) has already given the green light to the Subic Enerzone Corporation to carry on with its operations at the ecozone.

Subic Enerzone is a joint enterprise of Aboitiz Equity Ventures Inc. and the Davao Light and Power Company Inc.

The PCCLGC disclosed that power rates inside the former US naval facility "is expected to decrease to P3.90 from P4.49 per kilowatt hour."

It also said that the reduction of power rates in Subic is "one of the top priorities" of the new consortium.