February 23, 2018, 8:47 am
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1 Philippine Peso = 0.07045 UAE Dirham
1 Philippine Peso = 2.04297 Albanian Lek
1 Philippine Peso = 0.03415 Neth Antilles Guilder
1 Philippine Peso = 0.38059 Argentine Peso
1 Philippine Peso = 0.02443 Australian Dollar
1 Philippine Peso = 0.03415 Aruba Florin
1 Philippine Peso = 0.03837 Barbados Dollar
1 Philippine Peso = 1.59409 Bangladesh Taka
1 Philippine Peso = 0.0304 Bulgarian Lev
1 Philippine Peso = 0.00723 Bahraini Dinar
1 Philippine Peso = 33.58872 Burundi Franc
1 Philippine Peso = 0.01918 Bermuda Dollar
1 Philippine Peso = 0.02533 Brunei Dollar
1 Philippine Peso = 0.13159 Bolivian Boliviano
1 Philippine Peso = 0.06235 Brazilian Real
1 Philippine Peso = 0.01918 Bahamian Dollar
1 Philippine Peso = 1.2325 Bhutan Ngultrum
1 Philippine Peso = 0.18295 Botswana Pula
1 Philippine Peso = 384.03989 Belarus Ruble
1 Philippine Peso = 0.03832 Belize Dollar
1 Philippine Peso = 0.02429 Canadian Dollar
1 Philippine Peso = 0.018 Swiss Franc
1 Philippine Peso = 11.42605 Chilean Peso
1 Philippine Peso = 0.12152 Chinese Yuan
1 Philippine Peso = 54.88202 Colombian Peso
1 Philippine Peso = 10.87186 Costa Rica Colon
1 Philippine Peso = 0.01918 Cuban Peso
1 Philippine Peso = 1.71801 Cape Verde Escudo
1 Philippine Peso = 0.39493 Czech Koruna
1 Philippine Peso = 3.3921 Djibouti Franc
1 Philippine Peso = 0.11601 Danish Krone
1 Philippine Peso = 0.94226 Dominican Peso
1 Philippine Peso = 2.17652 Algerian Dinar
1 Philippine Peso = 0.24369 Estonian Kroon
1 Philippine Peso = 0.33858 Egyptian Pound
1 Philippine Peso = 0.52177 Ethiopian Birr
1 Philippine Peso = 0.01557 Euro
1 Philippine Peso = 0.03825 Fiji Dollar
1 Philippine Peso = 0.01371 Falkland Islands Pound
1 Philippine Peso = 0.01377 British Pound
1 Philippine Peso = 0.08533 Ghanaian Cedi
1 Philippine Peso = 0.89967 Gambian Dalasi
1 Philippine Peso = 172.74122 Guinea Franc
1 Philippine Peso = 0.14073 Guatemala Quetzal
1 Philippine Peso = 3.9296 Guyana Dollar
1 Philippine Peso = 0.15011 Hong Kong Dollar
1 Philippine Peso = 0.45024 Honduras Lempira
1 Philippine Peso = 0.11584 Croatian Kuna
1 Philippine Peso = 1.216 Haiti Gourde
1 Philippine Peso = 4.85824 Hungarian Forint
1 Philippine Peso = 261.23153 Indonesian Rupiah
1 Philippine Peso = 0.06714 Israeli Shekel
1 Philippine Peso = 1.24329 Indian Rupee
1 Philippine Peso = 22.71245 Iraqi Dinar
1 Philippine Peso = 713.12103 Iran Rial
1 Philippine Peso = 1.9248 Iceland Krona
1 Philippine Peso = 2.40936 Jamaican Dollar
1 Philippine Peso = 0.01359 Jordanian Dinar
1 Philippine Peso = 2.0619 Japanese Yen
1 Philippine Peso = 1.9413 Kenyan Shilling
1 Philippine Peso = 1.3061 Kyrgyzstan Som
1 Philippine Peso = 77.09572 Cambodia Riel
1 Philippine Peso = 7.62709 Comoros Franc
1 Philippine Peso = 17.26453 North Korean Won
1 Philippine Peso = 20.55496 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01573 Cayman Islands Dollar
1 Philippine Peso = 6.12565 Kazakhstan Tenge
1 Philippine Peso = 158.52676 Lao Kip
1 Philippine Peso = 28.96605 Lebanese Pound
1 Philippine Peso = 2.97621 Sri Lanka Rupee
1 Philippine Peso = 2.45904 Liberian Dollar
1 Philippine Peso = 0.22463 Lesotho Loti
1 Philippine Peso = 0.05848 Lithuanian Lita
1 Philippine Peso = 0.0119 Latvian Lat
1 Philippine Peso = 0.02544 Libyan Dinar
1 Philippine Peso = 0.17647 Moroccan Dirham
1 Philippine Peso = 0.31853 Moldovan Leu
1 Philippine Peso = 0.95396 Macedonian Denar
1 Philippine Peso = 25.47477 Myanmar Kyat
1 Philippine Peso = 45.90946 Mongolian Tugrik
1 Philippine Peso = 0.15451 Macau Pataca
1 Philippine Peso = 6.71398 Mauritania Ougulya
1 Philippine Peso = 0.62536 Mauritius Rupee
1 Philippine Peso = 0.29868 Maldives Rufiyaa
1 Philippine Peso = 13.76098 Malawi Kwacha
1 Philippine Peso = 0.35911 Mexican Peso
1 Philippine Peso = 0.07494 Malaysian Ringgit
1 Philippine Peso = 0.22327 Namibian Dollar
1 Philippine Peso = 6.88663 Nigerian Naira
1 Philippine Peso = 0.59477 Nicaragua Cordoba
1 Philippine Peso = 0.15035 Norwegian Krone
1 Philippine Peso = 1.98703 Nepalese Rupee
1 Philippine Peso = 0.02611 New Zealand Dollar
1 Philippine Peso = 0.00738 Omani Rial
1 Philippine Peso = 0.01918 Panama Balboa
1 Philippine Peso = 0.06229 Peruvian Nuevo Sol
1 Philippine Peso = 0.0629 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11989 Pakistani Rupee
1 Philippine Peso = 0.06472 Polish Zloty
1 Philippine Peso = 106.82716 Paraguayan Guarani
1 Philippine Peso = 0.06982 Qatar Rial
1 Philippine Peso = 0.07256 Romanian New Leu
1 Philippine Peso = 1.0862 Russian Rouble
1 Philippine Peso = 16.12737 Rwanda Franc
1 Philippine Peso = 0.07193 Saudi Arabian Riyal
1 Philippine Peso = 0.14866 Solomon Islands Dollar
1 Philippine Peso = 0.2582 Seychelles Rupee
1 Philippine Peso = 0.34501 Sudanese Pound
1 Philippine Peso = 0.15536 Swedish Krona
1 Philippine Peso = 0.02534 Singapore Dollar
1 Philippine Peso = 0.01372 St Helena Pound
1 Philippine Peso = 0.42597 Slovak Koruna
1 Philippine Peso = 146.36485 Sierra Leone Leone
1 Philippine Peso = 10.78074 Somali Shilling
1 Philippine Peso = 381.75523 Sao Tome Dobra
1 Philippine Peso = 0.16785 El Salvador Colon
1 Philippine Peso = 9.87876 Syrian Pound
1 Philippine Peso = 0.22325 Swaziland Lilageni
1 Philippine Peso = 0.60368 Thai Baht
1 Philippine Peso = 0.04586 Tunisian Dinar
1 Philippine Peso = 0.0428 Tongan paʻanga
1 Philippine Peso = 0.07262 Turkish Lira
1 Philippine Peso = 0.12717 Trinidad Tobago Dollar
1 Philippine Peso = 0.55966 Taiwan Dollar
1 Philippine Peso = 43.06541 Tanzanian Shilling
1 Philippine Peso = 0.51746 Ukraine Hryvnia
1 Philippine Peso = 69.67197 Ugandan Shilling
1 Philippine Peso = 0.01918 United States Dollar
1 Philippine Peso = 0.54556 Uruguayan New Peso
1 Philippine Peso = 156.62766 Uzbekistan Sum
1 Philippine Peso = 478.3426 Venezuelan Bolivar
1 Philippine Peso = 435.71839 Vietnam Dong
1 Philippine Peso = 1.98465 Vanuatu Vatu
1 Philippine Peso = 0.04817 Samoa Tala
1 Philippine Peso = 10.20986 CFA Franc (BEAC)
1 Philippine Peso = 0.05179 East Caribbean Dollar
1 Philippine Peso = 10.20986 CFA Franc (BCEAO)
1 Philippine Peso = 1.85248 Pacific Franc
1 Philippine Peso = 4.79474 Yemen Riyal
1 Philippine Peso = 0.22325 South African Rand
1 Philippine Peso = 99.5492 Zambian Kwacha
1 Philippine Peso = 6.94226 Zimbabwe dollar

Sober power pricing readied

The Philippine power industry both producers and distributors will have to accept new pricing that will balance the cost of production and supply stability at the least cost to consumers.
 
Philippine Independent Power Producers Association (PIPPA) president Luis Miguel Aboitiz told Business Insight the country could expect changes to be made this year in certain rules and policies to reduce or prevent price volatility to the consumers.
 
“Policies will have to be made about the right balance between cost and stability. Customers, particularly the lower income ones, are not willing to accept the volatility we experienced recently,” Aboitiz said.
 
“However, any policies that will be crafted should help ensure that investors are not discouraged from putting up needed generation assets moving forward, rules are respected and consistently applied, and transparency and integrity of the market is promoted,” he added.
 
The industry was roiled late last year by Manila Electric Co.’s decision to increase charges due to what it reported was the higher cost of electricity it bought for distribution. The higher production cost was attributed to the maintenance shutdown of the Malampaya natural gas plant.
 
This forced several generating plants to buy costlier fuel. 
 
The Supreme Court ordered a 60-day temporary restraining order on the Meralco plan. 
 
The problem of pricing was on top of the still unresolved power crisis in Mindanao. 
 
Meralco, the country’s largest power distributor, saw its generation charge or the cost of power it bought from its suppliers rise to P9.11 per kilowatt-hour (kWh) in December, prompting various consumer groups and party-list legislators to file complaints which then led to a 60-day temporary restraining order by the Supreme Court.
 
Meralco then saw its generation charge for the January billing period reached another new record high of P10.23 per kWh caused primarily again by the Malampaya shutdown which crossed two billing periods and was coupled with the planned and unplanned outages of generation plants.
 
But while the Meralco’s rate issue seems to have taken away the limelight from the Mindanao power crisis for the meantime, the energy sector said it remains all eyes on the upcoming situation in the power-starved island.
 
Department of Energy Secretary Carlos Jericho said Mindanao will not be spared from power outages this year as capacity will still not be able to meet demand.
 
Petilla, however, stressed that the potential power woes can be averted this time around once electric cooperatives there decides to source their supply from the Interim Mindanao Electricity Market (IMEM).
 
Various areas in Mindanao suffered seven to nine hours of rotating brownout daily last year during the peak of the summer months as no immediate solution was made available by the government.
 
But this will not be the case this year with IMEM in place, assured Petilla.
 
Both the energy chief and the PIPPA president agreed that the IMEM was one of the most important projects that were implemented last year in the energy sector.
 
“The IMEM, some are saying, has no effect yet but actually it is very crucial for summer and the mere fact that we implemented it this early, in fact late last year, is a preparation for summer. It has an impact on Mindanao but the biggest impact will be felt by summer,” Petilla said.
 
The IMEM is a platform for electricity market in Mindanao that is expected to bring in additional capacity to bridge the island’s power supply gap while waiting for big capacity projects to come in by 2015.
 
Petilla said the electricity market is expected to draw in about 300 megawatts (MW) of power from uncontracted and available power capacities in Mindanao.
 
Under the IMEM, energy distributors will be allowed to sell power supply from its embedded generators to areas having deficit with all of the distribution utilities and other generation capacities connected to the Mindanao power system mandated to participate in it.
 
“Although this (IMEM) was started in December, the first payment is not due until end of January, so we do not know how successful this will be yet,” Aboitiz said.
 
Aside from the IMEM, another program which both Petilla and Aboitiz consider as having the most impact for last year was the retail competition and open access (RCOA).
 
“RCOA made significant effects because it stirred the entire contestable customers. Slowly the people are now realizing that they can actually get cheaper power if you go direct and it brought about competition,” Petilla said.
 
RCOA is scheme that allowed big electricity consumers in Luzon and Visayas to choose their own power suppliers instead of distribution utilities sourcing electricity on their behalf.
 
The qualified customers under the scheme are referred to as contestable customers or those with at least one megawatt (MW) electricity consumption over the previous year.
 
RCOA is considered as a major milestone in the Philippine electric power industry as it provided competition in the retail supply segment of the country’s electric power industry by giving freedom to end-users to buy their electricity from power plant owners.
 
As of December 25, Aboitiz said that RCOA’s implementation has proved to be successful so far as 292 customers or 32 percent of the total 909 contestable customers representing about 850 MW have already switched from their former utility to new open access suppliers.
 
“From what I know among some of the contestable customers, they told us that they seem to have a good deal with the various retail electricity suppliers that they were able source from,” Petilla said.
 
“They were able to get a good deal because of the completion, what they are paying now is lower as compared to what they were paying before. So it is significant to the large users and locators in the Philippines, they can contract their own power,” the energy chief added.
 
Aboitiz said more contestable customer switches should be expected this year given the success of the RCOA so far.
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