Therma Marine starts P180-M refund to Mindanao customers

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Monday, January 13, 2014


POWER barge operator Therma Marine Inc. announced a P180-million refund to its customers in Mindanao starting January, representing adjustments in rates for power delivered in 2011.

Some 21 electric cooperatives and distribution utilities in Mindanao will benefit from the refund which was already implemented in the December 2013-January 2014 billing cycle.

Included in the refund are consumers of Cotabato Electric Cooperative, South Cotabato Electric Cooperatives 1 and 2 as well as Sultan Kudarat Electric Cooperative.

The refund will be implemented within six months as mandated by the Energy Regulatory Commission (ERC) in its final order received in January 3. ERC likewise ordered the electric cooperatives and distribution utilities to apply the refund to its consumers.

According to Therma Marine president and COO Jovy P. Batiquin, the refund represents the difference in the ERC-approved provisional power rate and the later final power rate also approved by the commission.

“Since there was an immediate need for power by Mindanao in 2011, Therma Marine started delivering power to the electric cooperatives and distribution utilities as soon as possible, pegging our rates on the
provisional authority granted to us by the ERC. The provisional authority was issued while ERC assessed our proposed rate structure,” Batiquin said.

“The ERC has decided that the final rate must be lower than the earlier approved provisional rate so a refund will be implemented without any delay,” he added.

Batiquin encourages consumers in Mindanao to contact their respective local distribution utility and electric cooperative to determine how much refund will be given to them and the process for the refund.

Therma Marine supplies peaking power to its customers in the Mindanao grid, to complement supply coming from the National Power Corporation. It operates oil-fired power barges in Maco, Compostela Valley and Nasipit, Agusan del Norte. The two barges combine for 200-MW.

The following electric cooperatives and distribution utilities will receive refunds equivalent to six (6) equal months payments: Agusan del Norte Electric Cooperative, Agusan del Sur Electric Cooperative, Bukidnon Second Electric Cooperative, Camiguin Electric Cooperative, Cotabato Electric Cooperative, Davao del Norte Electric Cooperative, Davao del Sur Electric Cooperative, Davao Light and Power Company, Davao Oriental Electric Cooperative, Misamis Occidental I Electric Cooperative, Misamis Oriental II Electric Cooperative, South Cotabato I Electric Cooperative, South Cotabato II Electric Cooperative, Sultan Kudarat Electric Cooperative, Surigao del Norte Electric Cooperative, Surigao del Sur I Electric Cooperative, Surigao del Sur II Electric Cooperative, Zamboanga City Electric Cooperative, Zamboanga del Sur II Electric Cooperative, Zambonga del Norte Electric Cooperative, Zamboanga del Sur I Electric Cooperative.

Published in the Sun.Star Cagayan de Oro newspaper on January 13, 2014.

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