Dingras, Ilocos Norte - The Ilocos Norte Electric Cooperative (INEC) has signed a one-year emergency power supply agreement (EPSA) with GNPower Dinginin Ltd. Co. (GNPD) to ensure a stable power supply of up to 51 megawatts (MW) for Ilocos Norte.
According to Philippines News Agency, INEC's acting general manager, Cipriano Martinez, stated in a briefing following the EPSA signing at the cooperative's main branch in Dingras, that this agreement is crucial for the welfare of power consumers in the province. The province's power supply preparedness has been enhanced through a strengthened alliance with Aboitiz Power Corporation, which indirectly partners with GNPD through its subsidiary Therma Power, Inc. (TPI).
GNPD sales manager Ronald Gutierrez revealed the details of the power supply deal, including a baseload capacity of 35 MW at PHP6.75 per kilowatt-hour (kWh), offering a PHP0.10 discount for prompt payment by INEC. This fixed-rate agreement promises stability in power costs, even with potential fluctuations in coal prices in the world market. The agreement is timely, as it could lead to lower power rates for consumers during the high-demand Christmas season.
Martinez also expressed hope for further reductions in power rates, currently at PHP10.9955/kWh for residential consumers, through direct supply from renewable energy firms in the province. He mentioned ongoing support from the local government, including a plan for the Sangguniang Panlalawigan of Ilocos Norte to request independent power producers to sell a portion of their power directly to the province.