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November 12, 2014

TV 5 NEWS: Businesses told Use your standby generators in summer months and get compensation for fuel cost

MANILA, Philippines -- Local businesses can help ease the projected power shortage in the summer months next year by using their standby generators, a lawmaker said.

LPGMA Representative Arnel Ty urged the 263 corporations listed at the Philippine Stock Exchange to do their share by offering to run their generators in the event the power supply in Luzon becomes critically low in 2015.

“We are appealing to all PSE-listed firms to join the Interruptible Load Program (ILP),” Ty said.

The ILP is a scheme that allows commercial and industrial establishments with power generators to be cut off from the grid and be compensated for their fuel cost during tight supply situations.

Big industrial and commercial customers who have the ability to produce their own electricity through generating sets are among those that will be allowed to take part in the ILP.

Congress is currently deliberating proposals on how to avert the crisis by tapping into the standby generators of private corporations.

Ty said that helping the government find solution to the looming crisis was one way of practicing corporate social responsibility.

He added that at least 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.

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 added.

He said Posh Properties Development Co., a unit of PSE-listed Anchor Land Holdings Inc., has likewise joined the ILP, along with Shangri-La Plaza Corp., an affiliate of PSE-listed Shang Properties Inc.

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, Ty said.

“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,” he said.

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