Anton Perdices, chief operating officer of Visayan Electric Co. Inc., says their company has signed a long-term supply agreement with Thermal Visayas Inc. /Irene R. Sino Cruz
CEBU CITY, Philippines–The Visayan Electric Co. Inc. gave assurance that it will have stable power supply in the long-term despite volatility of prices in the spot market.
VECO Chief Operating Officer Anton Perdices said in a recent interview that they have entered into a long-term supply agreement with Aboitiz Power subsidiary Therma Visayas Inc. for the supply 150 megawatts of power.
With this supply agreement with TVI, the price fluctuations would not have much impact on its pricing, he pointed out.
Perdices also explained that VECO gets power from the geothermal facility in Leyte and coal-fired power plants so the current El Nino has not affected their supply.
Meanwhile, VECO continues to implement the 890-meter phase 3 of its underground distribution system (UDS). VECO, a unit of Aboitiz Power Corp. launched the project in 2015.
The UDS project aims to do away with the unsightly wires in Cebu City streets. At the same time, the project will reduce operational costs as well as outages caused by vegetation. It will also increase VECO’s overall customer reliability.
Part of VECO’s strategy is to improve customer service. VECO’s goal is to achieve a 100 percent response system in 30 minutes and 100 percent restoration in an hour.
The company also aims to increase by 50 percent same day connections and reconnections./dcb