BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013
Volume IV, No. 104
Market Indicators
As of 6:05 pm may 20, 2014 (Tuesday)
FOREX
PHISIX
US$1 = P43.75
6,882.73 points
12 cents
X
11.83 points
X
Briefly Reduced brownouts DAVAO City -- Customers of Davao Light and Power Company (DLPC) heaved a feeling of relief after the power utility announced it is now back to a maximum of one hour blackout during peak hours and none throughout the off-peak hours within its franchise area. The power utility attributed the reduction to a much improved power supply situation from the National Power Corporation (NPC) through the National Grid Corporation of the Philippines (NGCP). In a press statement, DLPC said that since last week the duration of the rotating brownouts has significantly reduced from a maximum of 2.5 hours and 1 hour during peak and off peak, respectively.
Price monitoring TANDAG City – As the school opening for school year 2014-2015 gets closer, the Department of Trade and Industry (DTI) has intensified the conduct of price monitoring of school supplies in Surigao del Sur, according to DTI Provincial Director Romel Oribe. He said that such move, which is an annual undertaking, is part of their routine to protect consumers against unscrupulous businessmen, especially this time around. Oribe bared that the Consumer Welfare Division headed by its chief, Manny Disca, is now in the central towns of the province. So far, Oribe stressed that there are no reported cases of alarming increase in prices of said goods.
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Power providers seek lower IMEM price cap D
By CARMELITO Q. FRANCISCO Correspondent
AVAO CITY — Mindanao’s power distributors want to lower the Interim Mindanao Electricity Market’s (IMEM) offer cap, a figure that would influence power price trading, to P22 per kilowatt-hour (kWh) from the P32 previously approved by the Energy Regulatory Commission.
OFFSHORE MINING. Miners try to salvage gold from the silt carried into the sea in Barangay Masgad, Malimono town in Surigao del Norte. mindanews photo by roel n . catoto
Government’s re-entry to power-generation won’t solve brownout woes DAVAO C it y - - If t he government will return to p ower generation it won’t solve the brownouts happening particularly in Mindanao. This according to Energy Secretary Jericho Petilla during the inauguration of the 14-megawatt Tudaya Hydropower Plant in Sta. Cruz, Davao del Sur last week. Petilla said that building a power generating plant takes about four years or longer. If ever government decides to go back to building
power plants it won’t solve the ongoing problem. He said that additional power plants will go online by 2015, this will include the 300-megawatt Aboitiz Coal Plant in Davao. Petilla admitted that there is a great pressure for the government to return to power generation. Electric Power Industry Reform Act (EPIRA) signed into law in 2001, prohibited the government from engaging in power generation. Brownout/PAGE 11
But, Romeo M. Montenegro, public affairs he ad of t he Mind anao Development Authority, said the cap would not matter anymore if the regulatory agency approves the proposed demand-side bidding system. “Under the system, the distributing utility will have the upper hand in proposing the pricing for the amount
of power that it is willing to buy,” Mr. Montenegro told BusinessWorld. If both distributor and power supplier agree on the pricing, they may immediately sign the supply contract. Mr. Montenegro said the initial volume of power for the temporary market will be at 100 megawatts but noted lower/PAGE 11
BRIGADA ESKWELA. AboitizPower subsidiary Therma South, Inc. team members join community leaders, teachers and pupils of Inawayan Elem. School and Binugao Central Elementary School at the start of the annual Brigada Eskwela. The employees cleaned classrooms, repainted walls and cleaned the school grounds in anticipation of the more than 2,500 pupils expected to enrol in the two schools this June. (Photo Provided)
DTI-10 tops agencies fighting corruption By CHENG ORDONEZ, Associate Editor
THE Department of Trade and Industr y in Region 10 (DTI-10) garnered the highest rating among the 24 government agencies rated for sincerity in fighting
corruption in the Social Weather Stations (SWS) 2013 Survey of Enterprises on Corruption. The survey excepted the Office of the President (OP).
Dr. Mahar K. Mangahas, SWS president, cited DTI10’s Excellent Rating during his presentation of the 2014 SWS Survey Review held in Cagayan de Oro City, earlier. “ The OP maintained corruption/PAGE 11
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