By: Gail Momblan
ILOILO CITY — MORE Electric and Power Corporation (MORE Power), which was granted a 25-year power distribution franchise here, secured a contract with a private corporation to supply this city with clean and renewable power.
A contract for 10 megawatts (MW), with an option to add 5 MW, was signed by top officials of MORE Power, headed by Roel Castro, the President and Chief Operating Officer of MORE Power; and Alexander Coo, President and Chief Operating Officer of Aboitiz Power Renewables, Inc. (APRI) on Tuesday afternoon in a hotel in this city.
The energy will be supplied by APRI, which operates the Tiwi and MakBan geothermal power plants, located in Albay and the provinces of Laguna and Batangas, respectively.
Coo underscored that the geothermal power supply that will be delivered 24/7 will leave zero carbon footprint.
“For a growing metropolis like Iloilo City, this makes perfect sense,” said Coo in a press conference Wednesday afternoon.
Castro, meanwhile, said MORE has considered factors in partnering with Aboitiz Power.
In the same press conference, Castro said Aboitiz Power has one of the lowest offers in terms of power supply at P4.27 kilowatt per hour (KWh).
Among the renewable sources of energy, he said the geothermal power that will be provided by Aboitiz Power is “more reliable because it comes from the Earth” and can therefore assure continuous availability.
Also, Castro is confident with Aboitiz Power, being the country’s largest power producers. He said it is important in establishing the reliability of MORE Power.
He assured that the rate of electricity in this city “would definitely go down” now with the two power producers that MORE Power inked contracts with.
Last week, MORE Power also signed an interim power supply agreement with KEPCO SPC Power Corporation (KSPC) that offers PHP4.665 per KWh.
The interim power supply agreement of MORE Power with Aboitiz Power and KSPC are both good for one year.
MORE Power eyes two more suppliers with the city’s current demand at 116-120 megawatts.
Under the law, MORE Power is allowed to avail of emergency power supply through negotiated procurement, provided that this will only be for a period of one year and the rates must not be higher than the latest Energy Regulatory Commission-approved generation tariff for the same or similar technologies in the area.
The agreement will take effect once MORE begins its operations. (PNA)