Press Release : ERC renews COC of SNAP Magat
The Energy Regulatory Commission (ERC) awarded on 06 December 2010 the renewed Certificate of Compliance of SN Aboitiz Power Magat, Inc. (SNAP Magat) after finding that SNAP Magat remains compliant to the technical and financial standards in the ERC’s Revised Guidelines for the Issuance of Certificate of Compliance for Generation Companies/Facilities (Revised Guidelines). The renewal allows SNAP Magat’s hydroelectric power plant (HEPP) located in Brgy. Aguinaldo in Ramon, Isabela to continue commercial operations for another five years.
SNAP Magat’s HEPP has an installed capacity of 360 MW. It is powered by the water resources of the Magat River in Ramon, Isabela. The generation company sells 35% of power output to five electric cooperatives (ECs) through a bilateral contract with each of the ECs. The ECs buying power from SNAP Magat include Quirino Electric Cooperative, Inc. (QUIRELCO), Isabela II Electric Cooperative, Inc. (ISELCO II), Cagayan I Electric Cooperative, Inc. (CAGELCO I), Cagayan II Electric Cooperative, Inc. (CAGELCO II) and Ifugao Electric Cooperative, Inc. (IFELCO). The rest of SNAP Magat’s generated power is traded in the Wholesale Electricity Spot Market (WESM).
Aside from operating as a peaking plant, SNAP Magat is also an ancillary service provider. It presently has an Ancillary Service Procurement Agreement (ASPA) with the National Grid Corporation of the Philippines, the concessionaire of the National Transmission Corporation (TRANSCO) that operates the power transmission backbone of the country.
“The ERC is glad that the hydroelectric power plant formerly owned by the government and now run by SNAP Magat remains to be in good operating condition. Renewable energy (RE) run plants help the country go clean and green in order to help mitigate the ill-effects of global warming,” ERC chairperson and CEO Zenaida G. Cruz-Ducut said.
December 20, 2010