Energy Secretary Vincent S. Perez said the DOE along with the National Power Corp. (Napocor), National Transmission Corp. (Transco) and Manila Electric Co. (Meralco) had met with the American Chamber of Commerce of the Philippines (AmCham), Federation of Philippine Industries (FPI), Japanese Chamber of Commerce Inc. (JCCI), Philippine Chamber of Commerce Inc. (PCCI) and the Semiconductor and Electronic Industries of the Philippines Inc. (SEIPI).
Perez said the groups expressed strong support to the program as it gives the industries the necessary relief in power costs.
"The industries were pleased and welcomed the implementation of the SPEED program. Series of one-on-one information drive with various industry organizations will be held to get more companies aware of this program," Perez said.
SPEED is a program initiated by Napocor and Meralco in response to calls made by President Gloria Macapagal-Arroyo last year for the two parties to work together to provide assistance to large electricity consumers.
The SPEED program grants price incentives to large electricity users, industrial and commercial, to encourage electricity demand and increase the use of existing power plants in the Luzon grid. The incentive is in the form of discounts on the incremental consumption of the consumer.
To date, Napocor reported that about 14 directly-connected companies have availed of the SPEED program since its implementation October last year. Napocor’s directly-connected customers in Luzon were given 50-centavos per kilowatt hour (kwh) reduction in rates.
The Energy Regulatory Commission (ERC) has also authorized the Transco to implement its Transmission Incentive Program (TIP) giving a fixed discount rate of 10-centavos per kwh to its customers that avail of the SPEED program.
Meralco, on the other hand, gives another 12-centavo per kwh discount. It reported that about 101 customers within its franchise area have enjoyed lower power rates beginning August when it implemented Phase 1 of its pricing incentive program under SPEED.
Phase 1 covers customers using at least 1,000 kilowatts every month. Most of the companies were in the garments and textile industry, food and beverage, tobacco, paper manufacturing, cement as well as mining business.
Combined the SPEED and TIP programs give bulk electricity users in the Meralco franchise area a total of 72-centavos per kwh reduction in rates on their incremental consumption.