ISLA NORTE Energy Corp. (INEC) can continue supplying power to Bantayan Electric Cooperative, Inc. (Banelco) after the Energy Regulatory Commission (ERC) approved their interim power supply agreement (IPSA).
In an order notice posted on the regulatory commission website, the approved fixed interim rate is at P5.92 per kilowatt-hour (kWh), while the fuel fee is subject to the guaranteed fuel consumption rate of P0.28 per liters/kWh (Li/kWh) and P0.0020 Li/kWh, whichever is higher.
The commission has also ordered Banelco to verify the subsidy fees paid for by the National Power Corp.’s small power utilities group (NPC-SPUG) in every billing month and confirm that the pricing is according to what’s agreed; certify to the NPC-SPUG each billing period that INEC has been operating and maintaining the power plant; and submit a monthly fuel cost.
Banelco also has an existing 2.7-megawatt (MW) power supply agreement with Bantayan Island Power Corp.
Meanwhile, INEC, a joint venture of Vivant Integrated Diesel Corp. and Gigawatt Power, Inc., was directed to submit an audited financial statement including its operations and maintenance expenses, plant cost and actual plant capacity factor, and to conduct preventive maintenance during off-peak hours.
In November 2021, INEC powered up the energy supply of Bantayan Island after the operations of its 23.3-MW diesel power plant, which was allowed by the ERC to operate on Oct. 28, 2021. — M.C. Lucenio
