News

The Energy Regulatory Commission (ERC) renewed on 09 November 2009 the Certificates of Compliance (COC) of First Cabanatuan Ventures Corporation (FCVC) for its four (4) units Diesel Engine Generating Sets located at Sitio Mampulog, Brgy. Bitas, Cabanatuan City. This generation facility is termed as an “embedded” generator in the sense that the facility is directly connected to the distribution system of CELCOR (Cabanatuan Electric Corporation) bypassing the transmission system. Power generations are solely transmitted to CELCOR and are utilized during peak hours only.

A COC, which has a life of five (5) years, must be gained before any generation company can commence commercial operations. It is renewed after a generation company (GenCo) or a self-generating facility (SGF) has proven its faithful compliance to the reportorial, technical and financial requirements as well as with the terms and conditions set forth in the ERC’s Guidelines for the issuance of Certificate of Compliance for Generation Companies/Facilities, as Amended.

FCVC was initially registered with the Securities and Exchange Commission (SEC) on 14 September 1993 as First Cabanatuan Ventures Incorporated (FCVI). On 11 April 1997, FCVI was changed to FCVC. The primary purpose of the company is to carry on the general business of generation and supply of power, derived from coal, fossil fuel, geothermal, nuclear, natural gas, hydroelectric and other viable sources of power, for lighting and power purposes and whole selling the electric power to public electric utilities and electric cooperatives, and for the carrying on of all business incident thereto.

FCVC executed a Power Purchase Agreement with Cabanatuan Electric Corporation (CELCOR) on 10 April 1997 under a Build-Operate-Transfer scheme.

“Power plant generators play significant roles in the electric power industry. Thus, it is important that the operations of these dynamos are done with utmost care, prudence and adherence to quality standards,” ERC Chairperson Zenaida G. Cruz-Ducut said.