July 24, 2017, 10:49 am
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1 Philippine Peso = 0.07443 UAE Dirham
1 Philippine Peso = 2.4017 Albanian Lek
1 Philippine Peso = 0.03628 Neth Antilles Guilder
1 Philippine Peso = 0.32436 Argentine Peso
1 Philippine Peso = 0.02723 Australian Dollar
1 Philippine Peso = 0.03626 Aruba Florin
1 Philippine Peso = 0.04054 Barbados Dollar
1 Philippine Peso = 1.63579 Bangladesh Taka
1 Philippine Peso = 0.03534 Bulgarian Lev
1 Philippine Peso = 0.00763 Bahraini Dinar
1 Philippine Peso = 34.60377 Burundi Franc
1 Philippine Peso = 0.02027 Bermuda Dollar
1 Philippine Peso = 0.02797 Brunei Dollar
1 Philippine Peso = 0.13904 Bolivian Boliviano
1 Philippine Peso = 0.06579 Brazilian Real
1 Philippine Peso = 0.02027 Bahamian Dollar
1 Philippine Peso = 1.30624 Bhutan Ngultrum
1 Philippine Peso = 0.20692 Botswana Pula
1 Philippine Peso = 405.75598 Belarus Ruble
1 Philippine Peso = 0.04049 Belize Dollar
1 Philippine Peso = 0.02733 Canadian Dollar
1 Philippine Peso = 0.01952 Swiss Franc
1 Philippine Peso = 13.57175 Chilean Peso
1 Philippine Peso = 0.13799 Chinese Yuan
1 Philippine Peso = 58.59343 Colombian Peso
1 Philippine Peso = 11.43535 Costa Rica Colon
1 Philippine Peso = 0.02027 Cuban Peso
1 Philippine Peso = 1.98075 Cape Verde Escudo
1 Philippine Peso = 0.47231 Czech Koruna
1 Philippine Peso = 3.59951 Djibouti Franc
1 Philippine Peso = 0.13357 Danish Krone
1 Philippine Peso = 0.95278 Dominican Peso
1 Philippine Peso = 2.19181 Algerian Dinar
1 Philippine Peso = 0.28109 Estonian Kroon
1 Philippine Peso = 0.36583 Egyptian Pound
1 Philippine Peso = 0.46433 Ethiopian Birr
1 Philippine Peso = 0.01797 Euro
1 Philippine Peso = 0.04244 Fiji Dollar
1 Philippine Peso = 0.01573 Falkland Islands Pound
1 Philippine Peso = 0.01572 British Pound
1 Philippine Peso = 0.08685 Ghanaian Cedi
1 Philippine Peso = 0.91021 Gambian Dalasi
1 Philippine Peso = 182.75233 Guinea Franc
1 Philippine Peso = 0.1491 Guatemala Quetzal
1 Philippine Peso = 4.14512 Guyana Dollar
1 Philippine Peso = 0.15784 Hong Kong Dollar
1 Philippine Peso = 0.47422 Honduras Lempira
1 Philippine Peso = 0.13229 Croatian Kuna
1 Philippine Peso = 1.24625 Haiti Gourde
1 Philippine Peso = 5.54195 Hungarian Forint
1 Philippine Peso = 269.57844 Indonesian Rupiah
1 Philippine Peso = 0.07211 Israeli Shekel
1 Philippine Peso = 1.30521 Indian Rupee
1 Philippine Peso = 23.93595 Iraqi Dinar
1 Philippine Peso = 657.62059 Iran Rial
1 Philippine Peso = 1.9771 Iceland Krona
1 Philippine Peso = 2.6139 Jamaican Dollar
1 Philippine Peso = 0.01433 Jordanian Dinar
1 Philippine Peso = 2.23666 Japanese Yen
1 Philippine Peso = 2.0906 Kenyan Shilling
1 Philippine Peso = 1.38113 Kyrgyzstan Som
1 Philippine Peso = 81.57681 Cambodia Riel
1 Philippine Peso = 9.12404 Comoros Franc
1 Philippine Peso = 18.24078 North Korean Won
1 Philippine Peso = 22.6366 Korean Won
1 Philippine Peso = 0.00614 Kuwaiti Dinar
1 Philippine Peso = 0.01662 Cayman Islands Dollar
1 Philippine Peso = 6.364 Kazakhstan Tenge
1 Philippine Peso = 166.08836 Lao Kip
1 Philippine Peso = 30.51277 Lebanese Pound
1 Philippine Peso = 3.08877 Sri Lanka Rupee
1 Philippine Peso = 1.84435 Liberian Dollar
1 Philippine Peso = 0.25922 Lesotho Loti
1 Philippine Peso = 0.06179 Lithuanian Lita
1 Philippine Peso = 0.01258 Latvian Lat
1 Philippine Peso = 0.02821 Libyan Dinar
1 Philippine Peso = 0.19642 Moroccan Dirham
1 Philippine Peso = 0.36735 Moldovan Leu
1 Philippine Peso = 1.09972 Macedonian Denar
1 Philippine Peso = 27.52331 Myanmar Kyat
1 Philippine Peso = 48.27726 Mongolian Tugrik
1 Philippine Peso = 0.16258 Macau Pataca
1 Philippine Peso = 7.25578 Mauritania Ougulya
1 Philippine Peso = 0.70024 Mauritius Rupee
1 Philippine Peso = 0.31394 Maldives Rufiyaa
1 Philippine Peso = 14.54094 Malawi Kwacha
1 Philippine Peso = 0.37863 Mexican Peso
1 Philippine Peso = 0.08672 Malaysian Ringgit
1 Philippine Peso = 0.2604 Namibian Dollar
1 Philippine Peso = 6.52615 Nigerian Naira
1 Philippine Peso = 0.59972 Nicaragua Cordoba
1 Philippine Peso = 0.17055 Norwegian Krone
1 Philippine Peso = 2.08654 Nepalese Rupee
1 Philippine Peso = 0.02835 New Zealand Dollar
1 Philippine Peso = 0.00779 Omani Rial
1 Philippine Peso = 0.02027 Panama Balboa
1 Philippine Peso = 0.06622 Peruvian Nuevo Sol
1 Philippine Peso = 0.06654 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11897 Pakistani Rupee
1 Philippine Peso = 0.0753 Polish Zloty
1 Philippine Peso = 112.82935 Paraguayan Guarani
1 Philippine Peso = 0.0738 Qatar Rial
1 Philippine Peso = 0.08196 Romanian New Leu
1 Philippine Peso = 1.14766 Russian Rouble
1 Philippine Peso = 16.61897 Rwanda Franc
1 Philippine Peso = 0.076 Saudi Arabian Riyal
1 Philippine Peso = 0.16004 Solomon Islands Dollar
1 Philippine Peso = 0.26836 Seychelles Rupee
1 Philippine Peso = 0.13498 Sudanese Pound
1 Philippine Peso = 0.17451 Swedish Krona
1 Philippine Peso = 0.02797 Singapore Dollar
1 Philippine Peso = 0.01573 St Helena Pound
1 Philippine Peso = 0.45006 Slovak Koruna
1 Philippine Peso = 152.00649 Sierra Leone Leone
1 Philippine Peso = 11.08634 Somali Shilling
1 Philippine Peso = 435.85326 Sao Tome Dobra
1 Philippine Peso = 0.17678 El Salvador Colon
1 Philippine Peso = 10.43737 Syrian Pound
1 Philippine Peso = 0.26014 Swaziland Lilageni
1 Philippine Peso = 0.6897 Thai Baht
1 Philippine Peso = 0.04917 Tunisian Dinar
1 Philippine Peso = 0.04647 Tongan paʻanga
1 Philippine Peso = 0.0711 Turkish Lira
1 Philippine Peso = 0.13537 Trinidad Tobago Dollar
1 Philippine Peso = 0.61011 Taiwan Dollar
1 Philippine Peso = 45.17633 Tanzanian Shilling
1 Philippine Peso = 0.53223 Ukraine Hryvnia
1 Philippine Peso = 72.78071 Ugandan Shilling
1 Philippine Peso = 0.02027 United States Dollar
1 Philippine Peso = 0.57377 Uruguayan New Peso
1 Philippine Peso = 77.82732 Uzbekistan Sum
1 Philippine Peso = 0.20216 Venezuelan Bolivar
1 Philippine Peso = 459.54601 Vietnam Dong
1 Philippine Peso = 2.18241 Vanuatu Vatu
1 Philippine Peso = 0.05201 Samoa Tala
1 Philippine Peso = 11.77483 CFA Franc (BEAC)
1 Philippine Peso = 0.05472 East Caribbean Dollar
1 Philippine Peso = 11.82205 CFA Franc (BCEAO)
1 Philippine Peso = 2.13174 Pacific Franc
1 Philippine Peso = 5.06546 Yemen Riyal
1 Philippine Peso = 0.25921 South African Rand
1 Philippine Peso = 105.17835 Zambian Kwacha
1 Philippine Peso = 7.33482 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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