CAGAYAN DE ORO

MisOr LGUs, FDC Misamis ink deal for financial benefits

CAGAYAN DE ORO. Signing of a memorandum of agreement between Misamis Oriental Governor Yevgeny Emano and representatives of FDC Misamis Power Corporation for the direct access to financial benefits. (Steph Berganio of Superbalita Cagayan de Oro)

THE local government of Villanueva, Misamis Oriental and the Provincial Government signed Monday, November 11, a memorandum of agreement (MOA) with the FDC Misamis Power Corporation (FDC Misamis) that will enable them to have direct access to financial benefits from the power firm being the host communities.

Juan Eugenio Roxas, CEO/president of FDC Misamis, said the (MOA) is for the establishment of trust accounts in compliance with the Department of Energy's (DOE's) amended Energy Resolutions (ER) 1-94.

Under the ER 1-94, the community hosting the energy resource and/or energy generating facility is entitled to a revenue share of one-centavo per kilowatt-hour of the total electricity sales.

Of the revenue share, 50 percent will go to the electrification fund, 25 percent for the development and livelihood fund, and the remaining 25 percent goes to reforestation, watershed management, health and/or environment enhancement fund.

"I-diretso na ihatag sa beneficiaries [ang funds], dili na iagi sa DOE. So gikan sa power company, ang one centavo per kilowatt hour idiretso na sa provincial, idiretso sa barangay," Roxas said.

Roxas said they are very happy with the development of the ER 1-94 as this will give the host communities an opportunity to use the funds for development projects or programs.

"Karon, idiretso na ihatag sa mga power generating companies didto sa mga beneficiaries para mapadali ang implementar ang mga programa," he said.

Villanueva Mayor Jennie Rosalie Uy, for her part, said the ER 1-94 fund is the key to fast-track the progress of the municipality. She also lauded FDC Misamis's constant support to the town's projects.

The host communities will benefit from the Development and Livelihood Fund and Reforestation, Watershed Management, Health and/or Environment Enhancement Fund.

"Apart from the ER 1-94 programs and projects, we also help the host communities. Kanunay ang among mga medical missions, kanunay ang among tabang sa mga host communities," Roxas said.

He also shared that one of FDC Misamis's priorities is environmental protection.

At present, FDC Misamis has a reforestation project in El Salvador, Misamis Oriental that encompassed a total of 100 hectares.


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