We would like to correct a statement in one of the columns that appeared in your publication yesterday, May 23, 2018.
In Mr. Jonathan Dela Cruz’s column Crossroads, it was stated:
“Instead, we will take the case of the privatization of the 106-MW Mt. Apo Geothermal power plant last 2015 under the Aquino II administration as it was the fruit of a creative but highly irregular and illegal privatization scheme…
“That P5.1827/kwh was arrived at in this manner: energy charge—P3.034/kwh plus winning bidder’s [Aboitiz] administration fee, P0.1377/kwh [P105.17 million per year] plus winning bidder’s recovery of highest premium, P2.011/kwh or,P128M/mo or P1.5B/yr annual payment to government for a total charge of P5.1827/kwh.”
We would like to clarify that Aboitiz Power Corp. did not bid for and does not own Mt. Apo Geothermal.
Thet Mesias
Media Relations Manager
Aboitiz Equity Ventures
