Capitol to get share in revenues of power firms

CEBU, Philippines —  The Cebu provincial government will soon get a share in the revenues of at least five power companies.

This is pursuant to Energy Regulation No. 1-94, which gives authority to the provincial government to collect one centavo from every kilowatt hour sold by power generators.

Toward this purpose, Governor Gwendolyn Garcia entered last November 28 memorandums of agreement with five companies, namely First Toledo Solar Energy Corp (FTSEC), Korea Electric Power Corp (KSPC), Bantayan Island Power Corp (BIPCOR), Global Business Power, and Aboitiz Power Corporation.

The Provincial Board gave Garcia the authority in a session last November 25.

The provincial treasurer, Atty. Roy Salubre, said that two trust funds -- Development and Livelihood Fund (DLF) and Reforestation, Watershed Management and/or Environmental Enhancement Fund (RWMEEF) – will be opened by Tuesday next week for every company.

It can be recalled that Garcia also quested a letter from the Department of Energy in Central Visayas supposedly asking the province to first come up with an annual work plan before accessing the shares.

She said this is hard to follow since the Capitol does not know the exact amount of shares that will be directed to the province by the power companies.

She added that it is likewise difficult to determine the shares to be remitted by the DOE to the province for those years the companies channeled the shares to the agency, instead of the local government unit. JMD (FREEMAN)

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