BusinessWeek Mindanao (August 29, 2014)

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BusinessWeek MINDANAO 2 cents

Best in Business and Economic Reporting

Philippine Press Institute Civic Journalism Community Press Awards 2013

Volume V, No. 36

Market Indicators

As of 6:12 pm August 28, 2014 (Thursday)

FOREX

PHISIX

US$1 = P43.71

7,100.70 points

cents

59.76 points

X

X

5

Briefly Lesser power rates DIGOS City -- The more than 65,000 consumers of Davao del Sur Electric Cooperative (Dasureco) will now pay less, as the power utility has reverted to full use of power being supplied by National Grid Corp. of the Philippines (NGCP). Engineer Godofredo Guya, Dasureco general manager, said the electric co-op rarely used now its modular generator sets because the power supply in the Mindanao grid has normalized. Dasureco had been using its modular generator sets because of lack of supply brought about by the collapse of some power plants in Mindanao and the failure of hydropower plants to crank up enough electricity, as water levels had dropped due to the summer months. “For the month of August, consumers will be paying less already,” Guya said.

P15.00

Japanese investors keen on Mindanao www.businessweekmindanao.com

Wednesday | August 29, 2014

Japanese investors monitoring progress of GPH-MILF peace process

D

By MINDANEWS

AVAO City – A businessman from the construction industry said that Japanese investors are monitoring the GPH-MILF peace process and are eyeing Mindanao in a potential investment for power projects.

In an interview Tuesday afternoon, Philippine Constructors Association executive director Manolito Madrasto said that Japanese firms are eyeing the Philippines as an alternative location for several industries, investors/PAGE 11

HIGALAAY FESTIVAL. Participants in colorful costumes aboard floats join the Higalaay civic military parade in Cagayan de Oro City on Wednesday, August 27, 2014. Cagayan de Oro will celebrate the feast of St. Augustine on August 28. mindanews photo by froilan gallardo

Therma Marine to refund Mindanao consumers By IRENE DAYO, Staff Writer

Investment promotion THE Department of Trade and Industry (DTI) based in the province encouraged recently the local government units in the province to strengthen its investment promotion through standard policies and registration process. Around 40 office heads in the local government units concerned in investment promotion, business permits and licensing, treasury and assessor assembled on August 13 at Big8 Corporate Hotel to a Forum on Business Permits and Licensing System cum Local Investment and Incentive Code Harmonization in the province. Romeo Castanaga, provincial director of DTI – Davao del Norte, said that since the establishment of the provincial investment and incentive code, their office advocated to the cities and municipalities to have their codes synchronized with the province in terms of substance and form.

POWER producer Therma Marine, Inc. (TMI) will soon effect the P12.695-million refund to its Mindanao consumers following the order by the Energy Regulatory Commission (ERC) for the National Grid Corporation of the Philippines (NGCP) to return the said amount representing the ancillary services charged to them. The refund will be coursed through the NGCP, TMI president and COO Jovy P. Batiquin said in a statement. In its recent order, the ERC said NGCP can implement the refund in 12 months or P1.05 billion per month.

“According ly, NGCP should reflect the refund to its customers starting the next billing cycle upon the receipt of this order,” the ERC said. The power sector regulator said the net refundable amount is P12.69 billion for a monthly refundable amount of P1.057 billion. This would translate to an estimated decrease in electricity bills of P0.0015 per kilowatt-hour. The refund order comes after the ERC ordered NGCP to recalculate its ancillary ser vices procurement agreement (ASPA) rates using lower rates approved by the refund/PAGE 11

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