SUN STAR DAILY CEBU: Legislator asks PSE-listed companies to join ILP to help address power woes
A SENIOR member of Congress has asked the 263 corporations listed at the Philippine Stock Exchange (PSE) to offer to run their standby generators in the event that Luzon’s power supply becomes critically low in the summer of 2015.
“We are appealing to all PSE-listed firms to join the Interruptible Load Program (ILP),” said House Deputy Minority Leader and LPG-MA Rep. Arnel Ty.
Ty said the PSE groups some of the Philippines’ largest business concerns with the best corporate social responsibility reputations.
He said seven PSE-listed firms – Ayala Land Inc., Century Properties Group Inc., GMA Network Inc., Megaworld Corp., Philippine Long Distance Telephone Co., Robinsons Land Corp., and SM Prime Holdings Inc. – have already signed up for the ILP.
Ty said Federal Land Inc.’s office skyscraper GT International Tower has also enlisted in the ILP. Federal Land is a wholly owned subsidiary of PSE-listed GT Capital Holdings Inc.
He said Posh Properties Development Co., a unit of PSE-listed Anchor Land Holdings Inc., has likewise joined the ILP, along with Shangri-La Paza Corp., an affiliate of PSE-listed Shang Properties Inc.
Based on established protocols, Ty said ILP participants are expected to disconnect from the Luzon grid and run their own generators once there is a high risk that the supply of electricity may fall short of demand between February to June next year.
The grid refers to the interconnected network for delivering electricity from suppliers to consumers.
A total of 29 firms, including those not listed at the PSE, have so far enrolled in the ILP, and are ready to drive their backup generators, according to Ty, who speaks for the minority bloc in the House energy committee.
“We applaud these entities for going out of their way to shield consumers, by helping to minimize the threat of potential power brownouts in Luzon between February to June next year,” Ty said.
Should all 29 firms run their own generators, Ty said some 169 megawatts (MW) may be freed and available for consumption by smaller businesses and homes.
Under the ILP, large electricity consumers with loads of at least one MW each – malls, office and residential towers, and factories – are encouraged to operate their standby generators to help Luzon deal with possible power shortages.
The risk of outages will be highest next summer, when demand peaks due to the extreme heat, while supply becomes fragile owing to reduced water pressure at hydropower facilities.
Luzon needs some 600 to 900 MW of reserves by the summer of 2015 to ensure the stable supply of electricity throughout the grid, according to the Department of Energy.
President Benigno Aquino III has already asked Congress to pass a joint resolution granting him emergency powers to contract the required additional generating capacity.
The House will likely approve by Dec. 1 a joint resolution enabling government to establish the extra generating capacity via a stronger ILP, said Oriental Mindoro Rep. Reynaldo Umali, energy committee chairman. (PR)