Norreen Bautista (right), head of EDC’s CSR team in Negros, turns over three checks amounting to P4.16 million to NORECO 1 GM Jose Jovileo Acabal, finance manager Nick Sherwin Llena and accounting division chief Elvie VendiolaNegrosanons will once again reap the benefits of hosting Energy Development Corporation’s (EDC) geothermal plants with the P4.16 million that the company has turned over to the Negros Oriental 1 Electric Cooperative Inc. (NORECO 1) for its electrification fund (EF).
The fund is part of the province’s Energy Regulations (ER) No. 1-94 benefit as host to EDC’s 222.5- megawatt Southern Negros geothermal facility, including its Green Core Geothermal Inc. (GCGI) subsidiary in Valencia, Negros Oriental.
Energy generation companies and/or energy resource developers are required to directly provide their ER1-94 benefits, equivalent to P0.01 per kilowatt-hour (kWh) of the total electricity sales, to their host communities. The funds used to be released by the Department of Energy (DOE).
“Being able to directly disburse our partner communities’ benefits as hosts to our geothermal facilities provides us with the opportunity to forge a stronger partnership with them as we work together to not only provide reliable, clean, stable power to more Negrosanons but to also help them thrive even during this COVID-19 pandemic,” said Norreen Bautista, head of EDC’s corporate social responsibility team in Negros.
Fifty percent of the P0.01/ kWh benefit shall be allocated to the host area’s EF. The funds should be applied to the host barangays, host municipality, host province, host region and the distribution utility’s (DU) other prioritized areas as approved by the DOE. The generation companies are required to turn over the EF to the DUs, which are responsible for opening a trust account and for administering the EF.
“We are grateful for the generosity of EDC and GCGI and for the fast delivery of these benefits. This is a big help in funding crucial projects in our areas,” said Jose Jovileo Acabal, general manager of NORECO 1, who received the EF together with the DU’s accounting division chief and finance manager. (Story/Photos by: Frances Ariola)