Aboitiz unit to supply power to NL co-ops

MANILA, Philippines - SN Aboitiz Power-Magat Inc., a joint venture between SN Power of Norway and Aboitiz Power Corp., will supply power to three Luzon-based electric cooperatives in the next three years.

SNAP-Magat president and chief executive officer Emmanuel Rubio said they have signed new power supply agreements (PSA) with Ifugao Electric Cooperative Inc., Isabela II Electric Cooperative Inc. and Quirino Electric Cooperative Inc.

Rubio said these power coops are existing customers and the PSAs are actually a continuation of three-year contracts signed in 2009.

He said terms include time-of-use rates and an approximate total supply of 30 megawatt of capacity from Magat hydroelectric power plant to the three electric cooperatives over five years.