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(From Philippine Daily Inquirer)
Byline: Abigail L. Ho
THE ABOITIZ-OWNED VISAYAN Electric Co. Inc. (Veco) will enjoy cheaper power rates from PNOC Energy Development Corp.s 49-megawatt (MW) Northern Negros Geothermal Plant (NNGP) only until 2009.
After that, the cost of power will go up.
In a disclosure to the Philippine Stock Exchange yesterday, PNOC-EDC information officer Erudito Recio said that for the first 24 months of the listed firms five-year electricity sales agreement with Veco, the selling price would be based on the Visayas grid tariff of the National Power Corp.
As approved by the Energy Regulatory Commission, …