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VECO assures Metro Cebu of stable power supply and rates

veco assures metro cebu of stable power supply and rates - VECO assures Metro Cebu of stable power supply and rates
veco linemen sinulog VECO - VECO assures Metro Cebu of stable power supply and rates
VECO.COM.PH

VISAYAN ELECTRIC Co., Inc. (VECO), owned by Aboitiz Power Corp. and Vivant Corp., has assured consumers in Metro Cebu of stable supply and rates amid the projected surge in demand in the next two months as well as over the long term. “We don’t have supply problem,” said VECO Chief Operating Officer Anton Mari G. Perdices, noting the entry of Therma Visayas Inc., (TVI) as one of its power sources. VECO has contracted 150 megawatts (MW) from TVI, also an Aboitiz Power subsidiary, for 15 years. TVI’s second 170-MW coal-fired power plant is expected to be online by May. Mr. Perdices said the contracted supply from TVI will also stabilize electricity rates for consumers. VECO has been sourcing its power requirement from the wholesale electricity sport market, geothermal plant in Leyte and oil-generated power plants. “[The entry of] TVI is a good timing because the spot market price is going crazy. We’d rather sign long term contract for stability and predictability,” he said. VECO, the country’s second-largest privately-owned distribution utility, covers the cities of Cebu, Mandaue, Talisay and Naga, and the municipalities of Liloan, Consolacion, Minglanilla and San Fernando. — The Freeman

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