MANILA, Philippines – The Philippine Economic Zone Authority (PEZA) has received P1.166-billion funding support for the ecozone rate program (ERP).
PEZA director general Lilia B. De Lima said the Office of the President approved the funding support of P1.166 billion and has directed the Department of Budget and Management to source out and adopt a disbursement mechanism for the monthly release of funds to the Power Sector Assets and Liabilities Management (PSALM).
The Office of the President recently approved the extension of the National Power Corporation (NPC)/PSALM- Meralco memorandum of agreement providing for Ecozone special power rate.
The ERP is contained in the MOA signed last September 2007 between NPC and Meralco. It is an offshoot of the existing Transition Supply Contract (TSC) between the parties which expired last December 25. With the privatization of the assets of the NPC, the TSC, including the MOA was assigned to PSALM.
Under the MOA, industries with high load factor and with an average monthly consumption of one megawatt are given special generation rates because they are more efficient, and therefore, entitled to a more cost-effective rate which is reflective of their consumption pattern.
De Lima said that the Department of Trade and Industry (DTI), Department of Finance (DOF), the Department of Energy (DOE) and the Department of Budget and Management (DBM) endorsed the request of PEZA to the Office of the President which approved the extension of the Memorandum of Agreement between NPC-PSALM and Meralco providing for ecozone special or preferred rates to qualified PEZA export manufacturing companies until December 25, 2012 or until the implementation of the Retail Competition and Open Access (RCOA), whichever comes first.
The ERP was initially implemented to ecozone enterprises located in 13 PEZA Special Economic Zones within the Meralco franchise area.
Presently, there are 514 ecozone export enterprises located in 21 PEZA special economic zones that are enjoying the benefits of ERP. –Ma. Elisa P. Osorio (The Philippine Star)
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