FDC claims that the contracts, which guarantee payments from NAPOCOR even if these private companies don't supply them with any electricity, have been responsible for an increase of up to 300 percent in household utility rates over the past two years.
These projects of NAPOCOR will affect more than 880 hectares (3.
Modina's fellow council members don't always share his views, especially when it comes to the NAPOCOR projects.
Within a few weeks, nuns, priests, students, faculty, vendors, and community residents were mobilized to collect signatures and attended public meetings with NAPOCOR representatives.
The remaining 280 million dollars will come from the Japan International Cooperation Bank, which will put up 100 million dollars, the ADB, 100 million dollars, and NAPOCOR
, 80 million dollars.
Governor Araceli Wong also initiated several meetings with FICELCO and NAPOCOR
to find a lasting solution to the brownouts that continue to trouble the residents of Catanduanes.
In times when private power generators raise their prices, NAPOCOR will come to stabilize price.
Yao, however, said that NAPOCOR will not duplicate the works of the Energy Regulatory Commission (ERC), which hears and approves power hike petitions.
NAPOCOR is no longer the same corporate entity, with the EPIRA mandating the privatization of its generation and transmission assets, save for those necessary for missionary electrification.
While this proposal will revive the government's regulatory powers of NAPOCOR, which was deregulated several years ago, Yao said this is necessary in light of the ASEAN economic integration by 2015.