BusinessWeek Mindanao (February 24, 2015)

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BusinessWeek MINDANAO Your daily business paper

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 108

Market Indicators

As of 6:05 pm feb. 23, 2015 (monday)

FOREX

PHISIX

US$1 = P44.27

7,826.07 points

3 cents

X

X Briefly 0.06

points

Panguil Bay bridge

www.businessweekmindanao.com

Tuesday | February 24, 2015

P15.00

As demand increases, power supply assured D

By IRENE DAYO, Staff Writer

UE to the expected power supply shortfall in the next few years, major power producers serving the Mindanao grid have assured additional capacity to come in 2016 but stressed conservation to counter the region’s declining electricity reserves.

TANGUB City -- The Panguil Bay Bridge (PBB) project, that will connect Tangub City, Misamis Occidental to Tubod town, Lanao del Norte, has been approved by the National Economic and Development Authority (NEDA) Board. Aimed to enhance connectivity and spur economic development in the area, the PBB, with an allocation of P5.087 billion to be taken from the General Appropriations Act (GAA), was approved during a recent meeting of the NEDA Board presided by President Benigno S. Aquino III in Malacaňang. The PBB’s scope of work includes the construction of the approach roads in both sides of the bridge, involving a length of 1,240 meters or 1.24 km., each, and the bridge itself involving a length of 2,360 meters or 2.36 kilometers.

Aboitiz Power Corp. chief executive Erramon Aboitiz said while there would be new supply coming in the first half of 2015 from their power generation facilities, conservation remained an effective measure to thwart

threats of a decreasing reserves. “Conservation is one. Also, what we’d like to ask all the consumers is to be pragmatic and to realize that if we do want adequate supply/PAGE 11

Agusan’s biomass plant to start operation in 2017 EASTERN Petroleum Corp will start construction of its maiden power project in Mindanao by January next year. Fernando L. Martinez, Eastern Petroleum chairman, told InterAksyon.com that the company is finalizing local

166-MW ready for ILP ABOITIZ Power Corporation and its customer-partners could free up about 166 megawatts of capacity in Luzon grid on next year’s critical summer months with the participation-commitment it secured from partners for the government-underpinned interruptible load program (ILP). In a statement to the media, the company noted that it “enlisted 70 customers to the program” – the bulk of which are contestable customers under the charge of the Aboitiz group’s retail electricity suppliers. The capacity de-loading anticipated from the RES customers of Aboitiz Power had been placed at 96 megawatts involving 38 REScovered entities. On the conglomerate’s distribution segment, the ILP capacity committed had been set at 70MW for 34 customers of its Visayan Electric Company (VECO) and Subic EnerZone.

C.M. Recto Avenue, CDO 0917-851-4308

permits before proceeding with initial site clearing for the 23.5-megawatt (MW) biomass plant in Agusan del Norte. “Site mobilization na kami January 2015 so first quarter 2017 we expect completion,” plant/PAGE 11

SPARKS. Sparks hit the pavement as a worker welds a part of the building being built on J.C. Aquino Avenue in Butuan City. mindanews photo by erwin mascarinas

XU justifies peace award for Iqbal By MARK FRANCISCO, Staff Writer

THE management of the oldest-running university in Northern Mindanao defended yesterday its earlier decision to confer an award to Moro Islamic Liberation

Front (MILF) Peace Panel chair Mohagher Iqbal when he comes to the city next month in time for the annual graduation season. In a statement released

yesterday, Xavier University president Fr. Roberto Yap said the decision to confer the award to Iqbal and two others was made in a November 29, 2014 meeting – or two months before the award/PAGE 11

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BAKWIT FAMILY. A family rests at the day care center in Barangay Inug-ug, Pikit town in North Cotabato where they fled to escape the fighting between the Moro Islamic Liberation Front and the Bangsamo Islamic Freedom Fighters. Frequent evacuations have become a fact of life for several residents affected by the conflict in Southwestern Mindanao. At least 15,000 persons are now living in evacuation centers in Pikit. mindanews photo by froilan gallardo

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