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Petition against the privatization and sales of Agus-Pulangui Hydro Electric Complexes
Agus-VII - This is the last plant in the Agus cascade before the Agus River enters Iligan Bay. Photograph courtesy of National Power Corp
But these benefits could be gone soon should the Agus-Pulangui Hydro Electric Complexes be privatized as mandated by the following provisions under the Electric Power Industry Reform Act (EPIRA) of 2001.
WHY ARE WE OPPOSED TO THE SALE OF THE AGUS AND PULANGUI COMPLEXES?
1. This will definitely lead to an increase in already exorbitant electricity rates.
2. The low cost of electricity in Mindanao is due to the existence of the Agus -Pulangui Hydro Complexes. We cannot afford to lose this one competitive edge, which could be the only major come-on for investors to put up their businesses in Mindanao.
3. There is a high Return On Rate Base (RORB). For 2008, the rate base current audited value of all NPC-Agus –Pulangui Hydro Complexes is PhP 14,327 billion. The net revenue is PhP 4,927 billion which gives an RORB of 39.66 per cent. At nearly 40 per cent, the rate of return is tremendous.
4. We are afraid that, with the privatization and sale of the Agus-Pulangui complexes, the patrimony of Mindanao will be sold at a giveaway price to exploitative local conglomerates with foreign partners.
5. Security of supply will be put at risk. NPC has been able to address quickly the sabotages and other security risks that are integral to the operation and maintenance of our power plants. On the other hand, NGCP, the concessionaire of our transmission lines, was unable to resolve the same problems quickly in 2008, conducting repairs only in 2009, compromising the supply to Davao and General Santos City, which experienced daily brownouts. Likewise, if the Agus-Pulangui complexes are privatized, crippling strikes may ensue. The employees have existing justified grievances.
6. The Agus-Pulangui hydro systems are integral to the third agenda item in the GRP-MILF peace talks on ancestral domain. Control of territory and natural resources are vital elements in the negotiation. Privatization will stand in the way of a peaceful political settlement.
More details and explanation in our petition letter. Please click the link, read, and sign your support to our campaign. http://www.petitiononline.com/pulangui/petition.html
The challenges in Mindanao are the challenges of the entire country. Ang sakit ng kalingkingan, ay sakit ng buong katawan.
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