ABOITIZ EQUITY VENTURES, INC.: AboitizPower Oil Business Unit assists LGUs through ER 1-94-funded projects

Aboitiz Equity Ventures, Inc. issued the following announcement on Aug. 4.

As local government units (LGUs) face great challenges in battling the effects of COVID-19, it is necessary to maximize all available resources in order to protect and support their constituents. AboitizPower Oil Business Unit has been closely coordinating with its host localities, lending assistance at every length through various projects. The company is also providing them with much-needed funds through the Energy Regulations 1-94 (ER 1-94) program.

This program allows host communities to directly access funds generated from the operations of AboitizPower facilities, which are intended for use in developing local projects and activities. It is a policy under the Department of Energy (DOE) Act of 1992 and Electric Power Industry Reform Act of 2001 (EPIRA) which states that host communities will receive shares generated by power plants operating in its area.

Through the DOE Department Circular 2020-004-0008, the remitted funds can now be utilized for initiatives to combat the effects of COVID-19.

AboitizPower Oil Business Unit, through Therma Mobile, Inc. (TMO) in Luzon and Therma Marine, Inc. (TMI) in Mindanao, has been assisting local communities in their COVID-19 response and relief efforts funded fully by the ER 1-94 program.

TMO, along with the Navotas Local Government, turned over medical supplies to the workers of Brgy. North Bay Boulevard South and delivered additional relief goods to 6,415 households within the same barangay and in Brgy. North Bay Boulevard North.

Original source: https://aboitiz.com/aboitizpower-oil-business-unit-assists-lgus-through-er-1-94-funded-projects/