BusinessWeek Mindanao (May 9-10, 2014)

Page 1

BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

Volume IV, No. 99

Market Indicators

As of 2:30 pm may 8, 2014 (Thursday)

FOREX

PHISIX

US$1 = P44.29

6,771.60 points

3 cents

X X Briefly

www.businessweekmindanao.com

Steag’s turbine back in operation, adds 105-MW to Mindanao grid By FROILAN GALLARDO, MindaNews

29.09 points

Reflectorized signage CAGAYAN de Oro Councilor Annie Daba, chair of the City Council committee on agriculture and fisheries and vice-chair of the committee on women and family relations, called on the Department of Public Works and Highways (DPWH-10) to install signages and reflectorized road markings at the center islands in the city. In her special report during the regular session on Monday presided over by Vice Mayor Caesar Ian Acenas, Councilor Daba said accidents have happened in different areas due to lack of safety devices and reflectorized road markings. Vice Mayor Acenas referred this to the committee on public works chaired by Councilor Alden Bacal for appropriate action.

Tourism hub NORTHERN Mindanao topped tourist destination in 2011 with Cagayan de Oro City as the gateway city in the region, the Department of Tourism (DOT) in Region 10 said. Regional Director Catalino Chan III of Northern Mindanao said, that more than 1.7 foreign and domestic visitors and tourists passes through Cagayan De Oro City making it as the most visited commercial hub in Mindanao higher than Davao’s more than 956,000 visitors in 2011. In 2010, Region 10 tourists and visitors reached 1.4 million compared to Davao’s 900,000 visitors or a 16 per cent growth of tourist arrivals in Cagayan de Oro City and 5 percent tourist arrivals for Davao, Chan added. Chan said Cagayan Deo Oro City became an ideal travel destination because of its “connectivity” with other tourist destinations in the Visayas and Mindanao.

P15.00

Fri-Sat | May 9-10, 2014

A POWER turbine of the STEAG State Power went back online early Wednesday night but the added 105-MW electricity has yet to be felt around the energy-starved Mindanao grid. Jerome Soldevilla, STEAG

communications officer said the turbine, Unit 2 went back online at around 1846 hours or 6:46 p.m. Wednesday night, a day ahead of its scheduled resumption. “O n e h u n d r e d f i v e megawatts (of electricity)

is now added to the Grid,” Soldevilla said. The Nat iona l Gr id Corporation of the Philippines (NGCP) started distributing the much-needed electricity to the Mindanao grid at around 8:20 p.m. on Wednesday. back/PAGE 7

Steag’s second turbine is now back in operation boosting Mindanao grid with additional 105-MW.

SMEs take heavy toll from long brownouts T

By CRIS DIAZ and CHENG ORDONEZ with News Wire Reports

HE extended rotating brownouts festering Cagayan de Oro City since two weeks ago has taken a toll on the local business community here.

Oro Chamber President Efren Uy said the continued 7.5-hour brownout is taking heavy toll on small and medium enterprises since they are not equip with generating sets to sustain their electricity needs during the power cut-off.

Local power distributor Cagayan De Oro Power and Light Company (CEPALCO) has started implementing a 6-7 hours daily rotational brownouts since Monday and later extended it to 7.5 hours. toll/PAGE 7

P2.6B Oro skyway pushed By CRIS DIAZ of Mindanao Daily News

A L AW M A K E R i n Cagayan de Oro is pushing for the construction of a 2.4-kilometer Skyway that would cost P2.6 billion to ease the traffic congestion in the central district of this trading hub in Northern Mindanao. Rep. Rufus Rodriguez, 2nd District of Cagayan De

Oro City, said on Tuesday that he has requested the Department of Public Works and Highway (DPWH) to fast track the inclusion of the project in the DPWH budget for 2015. He said that the proposed Skyway would be known as skyway/PAGE 7

Most parts of Mindanao are plagued by brownouts that last up to 10 hours daily. mindanews photo by geonarri solmerano

Resumption of IMEM mulled to ease M’danao’s power shortage By EUAN PAULO C. AÑONUEVO, Contributor

THE Department of Energy (DOE) plans to resume operations of Mindanao’s electricity market to help mitigate the hours-long power interruption in the region. Energy Secretary Carlos Jericho L. Petilla said the department aims to revive the

Interim Mindanao Electricity Market (IMEM) within the month to draw out untapped power supply. The IMEM is a platform for trading electricity that allows plant operators with excess supply to sell to the grid at market prices. The market was suspended in

February after a grid-wide p ower inter r uption hit Mindanao. Since then, power comp anies w it h excess generating capacity have not been able to offer their output to distribution utilities in the region, Petilla said. Without the IMEM, power companies’ only recourse Ease/PAGE 7

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.
BusinessWeek Mindanao (May 9-10, 2014) by Mindanao Daily News - Issuu