September 23, 2017, 6:41 am
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1 Philippine Peso = 0.07205 UAE Dirham
1 Philippine Peso = 2.19737 Albanian Lek
1 Philippine Peso = 0.03473 Neth Antilles Guilder
1 Philippine Peso = 0.33883 Argentine Peso
1 Philippine Peso = 0.02472 Australian Dollar
1 Philippine Peso = 0.03508 Aruba Florin
1 Philippine Peso = 0.03924 Barbados Dollar
1 Philippine Peso = 1.60624 Bangladesh Taka
1 Philippine Peso = 0.03223 Bulgarian Lev
1 Philippine Peso = 0.0074 Bahraini Dinar
1 Philippine Peso = 34.03414 Burundi Franc
1 Philippine Peso = 0.01962 Bermuda Dollar
1 Philippine Peso = 0.02647 Brunei Dollar
1 Philippine Peso = 0.13537 Bolivian Boliviano
1 Philippine Peso = 0.06149 Brazilian Real
1 Philippine Peso = 0.01962 Bahamian Dollar
1 Philippine Peso = 1.26104 Bhutan Ngultrum
1 Philippine Peso = 0.20051 Botswana Pula
1 Philippine Peso = 392.78006 Belarus Ruble
1 Philippine Peso = 0.03919 Belize Dollar
1 Philippine Peso = 0.02419 Canadian Dollar
1 Philippine Peso = 0.01905 Swiss Franc
1 Philippine Peso = 12.25231 Chilean Peso
1 Philippine Peso = 0.12921 Chinese Yuan
1 Philippine Peso = 57.14342 Colombian Peso
1 Philippine Peso = 11.22072 Costa Rica Colon
1 Philippine Peso = 0.01962 Cuban Peso
1 Philippine Peso = 1.81263 Cape Verde Escudo
1 Philippine Peso = 0.42857 Czech Koruna
1 Philippine Peso = 3.49225 Djibouti Franc
1 Philippine Peso = 0.12231 Danish Krone
1 Philippine Peso = 0.92211 Dominican Peso
1 Philippine Peso = 2.19774 Algerian Dinar
1 Philippine Peso = 0.25715 Estonian Kroon
1 Philippine Peso = 0.34589 Egyptian Pound
1 Philippine Peso = 0.45831 Ethiopian Birr
1 Philippine Peso = 0.01644 Euro
1 Philippine Peso = 0.03953 Fiji Dollar
1 Philippine Peso = 0.01454 Falkland Islands Pound
1 Philippine Peso = 0.01447 British Pound
1 Philippine Peso = 0.08679 Ghanaian Cedi
1 Philippine Peso = 0.87895 Gambian Dalasi
1 Philippine Peso = 174.63213 Guinea Franc
1 Philippine Peso = 0.14311 Guatemala Quetzal
1 Philippine Peso = 3.97705 Guyana Dollar
1 Philippine Peso = 0.15314 Hong Kong Dollar
1 Philippine Peso = 0.45756 Honduras Lempira
1 Philippine Peso = 0.12286 Croatian Kuna
1 Philippine Peso = 1.19973 Haiti Gourde
1 Philippine Peso = 5.08986 Hungarian Forint
1 Philippine Peso = 260.48656 Indonesian Rupiah
1 Philippine Peso = 0.0688 Israeli Shekel
1 Philippine Peso = 1.27132 Indian Rupee
1 Philippine Peso = 22.89582 Iraqi Dinar
1 Philippine Peso = 658.62271 Iran Rial
1 Philippine Peso = 2.10712 Iceland Krona
1 Philippine Peso = 2.56229 Jamaican Dollar
1 Philippine Peso = 0.01388 Jordanian Dinar
1 Philippine Peso = 2.20489 Japanese Yen
1 Philippine Peso = 2.02178 Kenyan Shilling
1 Philippine Peso = 1.3433 Kyrgyzstan Som
1 Philippine Peso = 79.4585 Cambodia Riel
1 Philippine Peso = 8.05435 Comoros Franc
1 Philippine Peso = 17.65745 North Korean Won
1 Philippine Peso = 22.18972 Korean Won
1 Philippine Peso = 0.00592 Kuwaiti Dinar
1 Philippine Peso = 0.01609 Cayman Islands Dollar
1 Philippine Peso = 6.67785 Kazakhstan Tenge
1 Philippine Peso = 162.84088 Lao Kip
1 Philippine Peso = 29.53698 Lebanese Pound
1 Philippine Peso = 2.99588 Sri Lanka Rupee
1 Philippine Peso = 2.29351 Liberian Dollar
1 Philippine Peso = 0.26015 Lesotho Loti
1 Philippine Peso = 0.05981 Lithuanian Lita
1 Philippine Peso = 0.01217 Latvian Lat
1 Philippine Peso = 0.02654 Libyan Dinar
1 Philippine Peso = 0.18329 Moroccan Dirham
1 Philippine Peso = 0.34501 Moldovan Leu
1 Philippine Peso = 1.00647 Macedonian Denar
1 Philippine Peso = 26.68236 Myanmar Kyat
1 Philippine Peso = 48.14597 Mongolian Tugrik
1 Philippine Peso = 0.15773 Macau Pataca
1 Philippine Peso = 7.0826 Mauritania Ougulya
1 Philippine Peso = 0.65097 Mauritius Rupee
1 Philippine Peso = 0.30135 Maldives Rufiyaa
1 Philippine Peso = 14.05376 Malawi Kwacha
1 Philippine Peso = 0.34969 Mexican Peso
1 Philippine Peso = 0.08232 Malaysian Ringgit
1 Philippine Peso = 0.2598 Namibian Dollar
1 Philippine Peso = 6.92564 Nigerian Naira
1 Philippine Peso = 0.58623 Nicaragua Cordoba
1 Philippine Peso = 0.15332 Norwegian Krone
1 Philippine Peso = 2.01197 Nepalese Rupee
1 Philippine Peso = 0.02683 New Zealand Dollar
1 Philippine Peso = 0.00755 Omani Rial
1 Philippine Peso = 0.01962 Panama Balboa
1 Philippine Peso = 0.06369 Peruvian Nuevo Sol
1 Philippine Peso = 0.06268 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.06494 Pakistani Rupee
1 Philippine Peso = 0.07028 Polish Zloty
1 Philippine Peso = 111.25171 Paraguayan Guarani
1 Philippine Peso = 0.07269 Qatar Rial
1 Philippine Peso = 0.0755 Romanian New Leu
1 Philippine Peso = 1.13354 Russian Rouble
1 Philippine Peso = 16.2576 Rwanda Franc
1 Philippine Peso = 0.07357 Saudi Arabian Riyal
1 Philippine Peso = 0.15204 Solomon Islands Dollar
1 Philippine Peso = 0.2669 Seychelles Rupee
1 Philippine Peso = 0.13067 Sudanese Pound
1 Philippine Peso = 0.15655 Swedish Krona
1 Philippine Peso = 0.02649 Singapore Dollar
1 Philippine Peso = 0.01455 St Helena Pound
1 Philippine Peso = 0.43567 Slovak Koruna
1 Philippine Peso = 147.14538 Sierra Leone Leone
1 Philippine Peso = 10.928 Somali Shilling
1 Philippine Peso = 402.77613 Sao Tome Dobra
1 Philippine Peso = 0.17167 El Salvador Colon
1 Philippine Peso = 10.10359 Syrian Pound
1 Philippine Peso = 0.2598 Swaziland Lilageni
1 Philippine Peso = 0.64921 Thai Baht
1 Philippine Peso = 0.04791 Tunisian Dinar
1 Philippine Peso = 0.0432 Tongan paʻanga
1 Philippine Peso = 0.06876 Turkish Lira
1 Philippine Peso = 0.13239 Trinidad Tobago Dollar
1 Philippine Peso = 0.59217 Taiwan Dollar
1 Philippine Peso = 43.90818 Tanzanian Shilling
1 Philippine Peso = 0.51422 Ukraine Hryvnia
1 Philippine Peso = 70.57092 Ugandan Shilling
1 Philippine Peso = 0.01962 United States Dollar
1 Philippine Peso = 0.56582 Uruguayan New Peso
1 Philippine Peso = 158.34804 Uzbekistan Sum
1 Philippine Peso = 0.19569 Venezuelan Bolivar
1 Philippine Peso = 445.73278 Vietnam Dong
1 Philippine Peso = 2.0155 Vanuatu Vatu
1 Philippine Peso = 0.04907 Samoa Tala
1 Philippine Peso = 10.773 CFA Franc (BEAC)
1 Philippine Peso = 0.05297 East Caribbean Dollar
1 Philippine Peso = 10.75142 CFA Franc (BCEAO)
1 Philippine Peso = 1.95017 Pacific Franc
1 Philippine Peso = 4.90386 Yemen Riyal
1 Philippine Peso = 0.25991 South African Rand
1 Philippine Peso = 101.81479 Zambian Kwacha
1 Philippine Peso = 7.10025 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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