TACLOBAN CITY — A major renewable energy producer has turned over nearly P32 million to a local electric cooperative in Leyte, underscoring how revenues from power generation are being shared to strengthen electricity distribution services in host communities.
First Gen–Energy Development Corporation (First Gen-EDC) recently remitted P31.9 million to the Leyte V Electric Cooperative, Inc. (Leyeco)V as part of its obligations under the Department of Energy’s ER 1-94 program, a benefit-sharing scheme that channels a portion of power generation revenues to host local government units and distribution utilities.
The amount represents Leyeco V’s share from First Gen-EDC’s renewable energy operations in Leyte, particularly geothermal power generation. Under ER 1-94, generation companies are required to allocate financial benefits to communities and electric cooperatives affected by or hosting energy facilities, helping support improved power services and local development.
Leyeco V said the remitted funds will be used for operational improvements and system upgrades, aimed at enhancing the reliability and efficiency of electricity distribution across its franchise area, which covers Ormoc City and several municipalities in the third and fourth districts of Leyte.
The turnover was led by First Gen-EDC officials, led by Leyte site head and head of facility operations Engr. Estanislao Pialago Jr.
First Gen-EDC said the remittance highlights its continued partnership with local electric cooperatives and its commitment to sustainable energy development and community support in areas hosting its power facilities.
EDC, a subsidiary of First Gen Corporation, is the country’s largest 100-percent renewable energy company, with nearly 1,400 megawatts of installed capacity nationwide. This includes more than 1,000 megawatts of geothermal power, making it the world’s largest vertically integrated geothermal company. One of its major geothermal plants is located in Tongonan, Ormoc City.
Leyeco V serves Ormoc City and distributes electricity to the municipalities of Merida, Isabel, Palompon, Kananga, Matag-ob, and Albuera in Leyte’s 4th District, as well as Villaba, Tabango, San Isidro, Calubian, and Leyte in the 3rd District.
(ROEL T. AMAZONA)
