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By Darwin G. Amojelar Reporter
THE government plans to privatize
555-megawatts of National Power Corp.’s (Napocor) generating
capacity next year, in a bid to ensure energy security, the National
Economic and Development Authority (NEDA) said.
In a presentation, Acting
Socioeconomic Planning Secretary Augusto Santos, who is also NEDA
director-general, said the Power Sector Assets and Liabilities
Management Corp. (Psalm) is aiming for 100-percent privatization of
Napocor’s capacity.
The Presidential Task Force on
Energy Contingency set this target to address the unabated rise in
oil prices.
Santos said Psalm is moving
toward the privatization threshold of 70 percent for open access.
This year, Psalm will privatize 1,371-megawatts of capacity.
The generating assets up for sale
this year include the 22-megawatt Bataan thermal plant; the
748-megawatt Tiwi-MakBan geothermal complex, and the 0.8-megawatt
Amlan hydroelectric plant.
Last year, Psalm raised about
$2.7 billion after it privatized 12 Napocor plants out of 31
scheduled for auctions. This is equivalent to 42.7 percent of
Napocor’s capacity.
Santos said that the full
privatization of Napocor’s assets as well as the transfer of
independent power producer (IPP) contracts to IPP administrators
would facilitate the implementation of open access and retail
competition.
Under the Electric Power Industry
Reform Act of 2001 (Epira), open access would allow consumers to
choose their suppliers. The law however requires the government to
dispose of at least 70 percent of Napocor’s generating capacity
before open access starts.
Santos also said that the
P1-billion proceeds of the value-added tax will be used to promote
energy security. Of the total, P500 million will finance the
promotion of compact fluorescent lights and the remaining amount
will go to the Development Bank of the Philippines’ low-cost
financing for the conversion of public utility buses and jeepneys to
alternative-fuel use.
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