ABOITIZ EQUITY VENTURES, INC.: AboitizPower ER 1-94 remittances help boost Davao City’s fight against COVID-19

Aboitiz Equity Ventures, Inc. recently issued the following announcement on April 28.

Aboitiz Power Corporation (AboitizPower) continues to spread positive energy in Mindanao as the company has recently remitted its share of Energy Regulations 1-94 (ER 1-94) Program funds to the government of Davao City in support of its efforts to combat the effects of COVID-19.

Davao City is one of the host beneficiaries of AboitizPower generation units Hedcor and Therma South, Inc. (TSI). Through ER 1-94, the said AboitizPower units have now remitted P14 million to the city’s local government.

As the Department of Energy (DOE) also prepares to remit its share of funds through the program, the local government of Davao City is slated to receive a grand total of P26 million.

In a statement, Mayor Sara Duterte-Carpio expressed her profound gratitude to AboitizPower on behalf of the city.

“This funding relief couldn’t have come at a more opportune time when resources are badly needed by local governments to battle COVID-19. We thank DOE, as well as Hedcor and Therma South of AboitizPower for making this proactive move and providing us with additional resources to help step up our anti-COVID campaign,” she said.

On April 6, the DOE issued Department Circular 2020-004-00080, dictating that the ER 1-94 funds received by host communities of power generation companies may now be used in full for efforts towards managing the effects of COVID-19.

AboitizPower has since shown its full support for its beneficiaries nationwide, as local government units throughout the country continue their battle against the new virus. About half a billion worth of ER 1-94 funds are currently available for AboitizPower’s host LGUs across Luzon, Visayas, and Mindanao for their COVID-19 response efforts.

The ER 1-94 Program is a policy under the DOE Act of 1992 and the Electric Power Industry Reform Act of 2001 (EPIRA), which stipulates that host communities will get a share of one centavo for every kilowatt-hour (P0.01/kWh) generated by power plants operating in its area.

With COVID-19 greatly affecting our communities and livelihood, AboitizPower remains steadfast in its commitment to extending every possible form of assistance where it is needed.

Original source: https://aboitiz.com/aboitizpower-er-1-94-remittances-help-boost-davao-citys-fight-against-covid-19/