Concern over the possibility of overcontracting of power supply by the Central Negros Electric Cooperative after 2010 was aired in a press statement issued by convenor Romana de los Reyes of the Visayas for Renewable Energy.

The statement said consumers must be very concerned about the contracts that CENECO will enter into if it will not get out of the KEPCO-Salcon contract. Overcontracting for power can become very expensive for us consumers.

The statement also expressed concern over the earlier pronouncement of CENECO president Roberto Montelibano that they will also source power from PNOC-Energy Development Corp., First Farmers Holding Corp., and Hawaiian-Philippine Company to meet CENECO's demand for power after 2010 when its contract with the National Power Corp. will expire.

OFW remittances
surged in October

MANILA - Money sent home to the Philippines by millions of Filipinos working abroad soared 17.1 percent from a year earlier to a record $1.4 billion in October, the Bangko Sentral ng Pilipinas said yesterday.

Remittances for the 10 months to October grew 15.2 percent to $11.9 billion, a BSP statement said.

The money transfers correspond to about one-tenth of the country's economic output and have pushed the peso to eight-year highs against the dollar.

‘B' sugar prices
continue to rally

Prices of “B” or domestic sugar sustained its rally above P1,000 per Lkg this week, data of the Sugar Master Plan Foundation show.

At the Dec. 13 bidding, Binalbagan-Isabela Sugar Company disposed of its “B” stocks at P1,010.01; Central Azucarera de La Carlota, P1,032 (high) and P1,020 (low); Hawaiian-Philippine Company, P1,071.30 (high) and P1,060.25 (low); SONEDCO, P1,030;

Victorias Milling Company, P1,025; Lopez Sugar Corp., P1,022; Sagay Central Inc., P1,040; BUSCO, P1,025; Passi I, P1,067; Passi II, P1,051; Capiz, P1,040; and Bais, P1,023.

back to top