Blackout-plagued Mindoro will soon have cheap power rates, after a major power deal was signed between the region’s power cooperative and an energy firm.
Emerging Power Inc. (EPI) recently launched its 40-megawatt (MW) geothermal power plant with a power supply agreement (PSA) for 20-MW from the Oriental Mindoro Electric Cooperative (Ormeco), a deal seen to bring down power rates in the island-province by about 40 percent, from the current rate of over P110 per kilowatt-hour (kWh) to around P6.58 per kWh upon the project’s completion in 2016.
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