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==House panel seeks to renegotiate IPP contracts== | |||
*Source: http://www.abs-cbnnews.com/nation/10/11/11/house-panel-seeks-renegotiate-ipp-contracts | |||
*By: RG Cruz | |||
*''October 11, 2011'' | |||
The House of Representatives Committee on Energy has approved a motion to prepare a resolution asking for the renegotiation of contracts with independent power producers (IPPs) in the country. | |||
This was announced by Chairman Henedina Abad, representative of the lone district of Batanes during the hearing. | |||
The same resolution is also supposed to ask that pending applications of the Power Sector Assets and Liabilities Management Corporation (PSALM) for a 39 centavo per kilowatthour universal charge be delayed. | |||
The universal charge is a pass on charge to defray stranded costs of IPPs to cover the construction and maintenance of power plants. | |||
The resolution covers contracts for 19 IPPs, 11 in Luzon, 3 in Visayas and 5 in Mindanao. The resolution seeks to either bring down power rates or for the government to buy out the investors. | |||
The Department of Energy PSALM reported to the committee that the production cost of an IPP averages P20/kWh while it costs only P3/kwh average for other power plants. | |||
It also estimated that the country may have overpaid by as much as US$10 billion due to the high IPP rates and may overpay by as much if this continues for another 10 years. | |||
The amount is said to be equivalent to 10 1,000-MW power plants. | |||
The Philippines now has the highest cost of electricity in Asia at 18.1 US cents/kwh, overtaking Japan’s 17.9 US cents/kwh. | |||
==Region 2 is top 2 nationwide in social pension implementation-DSWD== | ==Region 2 is top 2 nationwide in social pension implementation-DSWD== | ||
*Source: http://www.pia.gov.ph/?m=1&t=1&id=57976 | *Source: http://www.pia.gov.ph/?m=1&t=1&id=57976 | ||