Noy wants power deals signed covering 18 yrs. By Rocky G. Nazareno 03/28/2012

Noy wants power deals signed covering 18 yrs.

By Rocky G. Nazareno 03/28/2012

President Aquino bared yesterday a renewal energy program that sounds like a clone of the energy build up strategy of former President Fidel V. Ramos that resulted in a power glut and along with it came the cost of electricity in the country spiralling which has now become the world’s most expensive.

Aquino said his administration’s renewal energy program had lined up service contracts to fill the projected energy demand until 2030 of 15,500 megawatts (MW) or about $15 billion worth of contracts based on a thumb rule of $1 million per 1 megawatt on the cost of generating electricity.

Amid reports that Congress is mulling to grant him special emergency powers to address the Mindanao power crisis, Aquino said his administration’s energy plan seeks to cover power demands until 2030..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/headlines/20120328hea3.html