AboitizPower remits P62-M to Davao Region LGUs
Subscribe Now September 05, 2020 at 02:32pm
Aboitiz Power Corporation subsidiaries Therma South, Inc. (TSI) and Hedcor have remitted to their host communities amounting to PHP62 million for coronavirus disease 2019 (Covid-19) initiatives and other projects, a statement from the company said Friday.
The PHP26 million were downloaded to this city and the PHP36 million has also been remitted by TSI and DOE to other various local government units (LGU) in the Davao region.
Aboitiz Power said the financial benefits funded several projects across AboitizPower’s host communities, Covid-19 initiatives in some cities and municipalities.
To date, Aboitiz Power said fund remittances to its host communities in the country have reached PHP508.2 million.
Through the Department of Energy’s (DOE) Energy Regulations, 1-94 (ER 1-94) program, AboitizPower and its partners have directly downloaded PHP148.2 million to 174 host beneficiaries across the country, while the PHP359.97 million from various AboitizPower-led generation companies were also remitted by the DOE to the host beneficiaries.
The ER 1-94 Program is a policy under the DOE Act of 1992 and the Electric Power Industry Reform Act of 2001 (EPIRA), which stipulates that host communities are entitled to get a share of one centavo for every kilowatt-hour (P0.01/kWh) generated by power plants operating in its area.
With the new circular covering ER 1-94 funds, host LGUs can use their share to help manage the effects of the new virus, in accordance with the Bayanihan to Heal as One Act, the company said.
The assistance includes the facilitation of mass testing by providing and constructing facilities, as well as acquiring proper medical testing kits, it said.
“We are glad that these funds are now with our communities as these will ensure they have the resources to fund crucial projects in their areas. Recent developments have also allowed them to use these remittances specifically to bolster their campaign against Covid-19,” AboitizPower President and CEO Emmanuel Rubio said.
Rubio added that the fund can be used by host beneficiaries for the electrification of areas or households that have no access to power, development and livelihood programs, as well as reforestation, watershed management, health, and environmental enhancement initiatives.
“More than the fact that this is the obligation of power generation companies to its host communities, this is a manifestation of our commitment to supporting our partners in any way we can, especially during these challenging times,” Rubio said.
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