BusinessWeek Mindanao (February 26, 2014)

Page 1

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 69

Market Indicators

As of 5:57 pm feb. 25, 2014 (Tuesday)

FOREX

PHISIX

US$1 = P44.63

6,296.32 points

5 cents

X

12.04 points

X

Briefly Contracted power THE Power Sector Assets and Liabilities Management Corp (Psalm) has put up for auction the one-year fuel supply requirements of government’s contracted independent power producers (IPPs) and power barges (PB). In separate invitations to bid, Psalm sought offers for the supply and delivery of industrial fuel and diesel oil to Southern Philippines Power Corp’s 55-megawatt (MW) diesel plant in General Santos City and Western Mindanao Power Corp’s 100-MW diesel plant in Zamboanga. Psalm set the budget for the fuel oil contracts at nearly P1.98 billion and P3.78 billion; and for diesel oil at P3.87 million and P1.28 million, respectively. Psalm likewise put up for bidding the industrial diesel oil requirements of the SPC Power Corp-operated 153.1-MW Naga power complex in Cebu; KEPCO Philippines Corp’s 1,200-MW Ilijan combined cycle plant in Batangas; and PBs 101 in Iloilo and 104 in Davao.

www.businessweekmindanao.com

FREE TV CH. 21 SkyCable Ch. 16 | Global Destiny Ch. 28 Cablelink Ch. 14 | Cignal Ch. 10

Wednesday|February 26, 2014

P15.00

Power companies worry over deferred payments

P

By MYRNA VELASCO, Contributor

OWER generation firms which are participating in the Interim Mindanao Electricity Market (IMEM) are complaining of deferred payments from government-led operator Philippine Electricity Market Corporation (PEMC) starting in their December 2013 billings.

PEMC admitted that there had been a letter from Energy Secretary Carlos Jericho L. Petilla seeking to temporarily defer payments to power suppliers in the IMEM as billing reconciliations are still being worked on. PEMC president Melinda L. Ocampo claimed that the deferred payments to power suppliers have been part of the “birth pains” of the Mindanao spot market. She noted that her team was in Mindanao last week “to settle everything and our three-day meetings with the

participants turned out to be successful.” Some generation companies (GenCos) and power suppliers indicated though that there had been no categorical outcome yet on when the IMEM arrears will be settled with them. Department of Energy (D OE) director Mylene Capongcol explained that the payments being made to the GenCos and power suppliers are just being based on the actual collections of PEMC from the IMEM buyers, power/PAGE 11

SUNRISE WALK. A picturesque sunrise is a perfect backdrop for an early morning walk in the town of Carmen in Agusan del Norte. mindanews photo by erwin mascarinas

Aboitiz gears up sustainability program for 2014 Aims for GRI-checked Level B Sustainability Report By GRACE BEBER, Staff Writer

WITH close to three million trees in its inventory, a newly launched Cleanergy Park, and a strengthened sustainability agenda, the Aboitiz Group is gearing up its sustainability program for 2014 as it levels up its sustainability reporting with the Global Reporting Initiative (GRI) – one of the world’s generally accepted

Contractor’s licenses DAVAO City – The Philippine Contractors Accreditation Board (PCAB) here has called on contractors to renew their licenses soonest to avoid rush, delay, and penalties. At the start of February, PCAB, an attached agency of the Department of Trade and Industry (DTI), has already been accepting renewal applications for the fiscal year 2014-2015. Based on schedule, contractors holding licenses ending in 0-1 must file their application by February; 2-3 by March; 4-5 by April; 6-7 by May; and 8-9 by June, including new applications approved from January to June this year. DTI-Davao officer-in-charge Ma. Belenda Q. Ambi said the Board has issued Resolution No. 408 series of 2013 “Enjoining all contractors to file their applications for license renewal on schedule filing months and providing for an additional processing fee (APF) for noncompliance therewith starting CFY 2014-2015.

12:30 PM - 1:00 PM

KUBING. Students view an sculpted art piece of Lumad playing the bamboo musical instrument called “kubing” (mouth harp) during the Lumad sa Luwad art exhibit by Kit Gresos as part of the national arts month celebration at Father Saturnino Urios University in Butuan City. mindanews photo by erwin mascarinas

standards. It is currently at Level B self-declared, while target is to accomplish GRI-checked Level B Sustainability Report. T h i s e nt ai l s re p or t i ng fully on a minimum of 20 performance indicators set by GRI with at least one on each area namely economic, environment, human rights,

labor, society, and product responsibility. L ast year, the group developed a sustainability p o l i c y, c h a r t e r, a n d framework as well as focus areas. The intent is to establish measurable objectives, set achievable targets, and track them year on year. Through its ‘BetterWorld’ c a m p a i g n , A b o i t i z ’s aboitiz/PAGE 11

Agus to add 90MW for Mindanao grid Misor government By MYRNA VELASCO, Contributor

THE rehabilitation and integration of the Agus 1 and 2 hydropower generating units into the P1.9 billion Balo-i Plain Flood Control Project

could beef up Mindanao grid supply by additional 90 megawatts. In a statement to the agus/PAGE 11

pushes for organic farming

MISAMIS Oriental -Misamis Oriental governor Yevgeny Vincente B. Emano on Tuesday encouraged farmers to adopt organic farming as a major thrust of the province’s agricultural program. Emano made the call during the three-day training on wholesome and acceptable agriculture practices in a seaside hotel here. organic/PAGE 11

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.