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.
The "build-own-transfer" agreement with NAPOCOR calls for the transfer of the ownership of the plant to NAPOCOR after 20 years.
In addition to its 20-percent ownership, Southern Energy will have the right to market electricity produced by plant in excess of the amount sold under its contract with NAPOCOR.