SOLAR Philippines Tarlac Corp. (SPTC) has secured approval from the Energy Regulatory Commission (ERC) to treat its financial model as confidential information, which, if disclosed to the public, might adversely affect the company’s competitiveness in future projects.
However, the ERC denied the company owned by businessman Leandro L. Leviste to similarly declare as confidential the project cost estimates as well as the breakdown of the total project cost into plant side and non-plant side costs.
“After reviewing the information sought to be declared confidential by the Applicant, the Commission rules that the following document with proprietary value be treated confidential until the end or termination of the Connection Agreement between NGCP and SPTC,” the agency said, identifying that document as the company’s financial model.
SPTC sought the confidential treatment relating to its application for authority to develop, own and operate dedicated point-to-point limited transmission facilities, to connect its 100-megawatt (MW) solar farm to the transmission system of the National Grid Corporation of the Philippines (NGCP).
“The document contains valuable and sensitive commercial and financial information regarding the business operations of SPTC, thus, constitute trade secrets,” the ERC said.
It said the information in the financial model are being used by SPTC in its business, which can be unfairly utilized by its business competitors to gain advantage and to the prejudice of the company, if disclosed.
However, the ERC said the other documents being sought to be treated confidentially “do not have any valuable proprietary interest to warrant them confidential treatment.” — Victor V. Saulon