Cebu Energy Development Corp., a unit of the Metrobank Group, has secured regulatory approval for its power supply agreement with Bohol I Electric Cooperative Inc. (Boheco I).
In its decision, the Energy Regulatory Commission said that the approval and implementation of the electric power purchase agreement (EPPA) would be “beneficial to the member-consumers of Boheco I by way of reliable, continuous and sufficient supply of power within its franchise area.”
Under the electric power purchase agreement, CEDC agrees to supply and deliver 14 megawatts to Boheco I over the next 15 years.
The ERC approved a rate of P5.2046 per kilowatt-hour.
CEDC will source the power it will provide to the electric cooperative from its 246-MW coal-fired power plant in Toledo City, Cebu.—Amy R.Remo