Aboitiz Power Corp. subsidiaries AP Renewables, Inc. (APRI) MakBan, Therma Mobile, Inc. (TMO) and SN Aboitiz Power (SNAP) have signed a memorandum of agreement with their respective beneficiaries on the revised provisions of Energy Regulations 1-94 (ER 1-94) that ease access of host communities to their financial revenue shares in power-related projects.
Aboitiz Power said through the Department of Energy’s Department Circular 2018-08-0021, power generation companies can now directly download the ER 1-94 fund to their host communities, effectively streamlining the release of funding to ease the process of implementing projects that benefit the host communities.
AboitizPower said APRI MakBan, TMO, and SNAP are set to turn over to their host communities P26.6 million, P1.3 million, and P10.5 million, respectively, or a total of P38.4 million.
Last year, the company generated P171 million ER 1-94 funds based on the total attributable energy sales of its various generation facilities across the country.
Under the policy, host communities will get a share of one centavo for every kilowatt-hour sold by power generation plants operating in its area.
The ER 1-94 fund can be used by host beneficiaries for the electrification of areas or households that have no access to power, development and livelihood programs, as well as reforestation, watershed management, health and environmental enhancement initiatives.
The Aboitiz Group and partners produce 4,471 megawatts of total net sellable capacity of electricity from both thermal and renewable power sources.
