Gotianun-led FDC Misamis Power Corporation has remitted P9.5 million as financial benefit to the local government unit (LGU) host of its power facility in Misamis Oriental in Mindanao to help in its pandemic response.
The turnover of the funds is in compliance with the mandate of the Department of Energy (DOE) under Energy Regulation 1-94. Under that policy, the host-LGUs of power plants or energy resource development projects are entitled to one-centavo per kilowatt hour (kWh) benefit in the electricity sales of the generation companies or energy firms.
The financial share of the host communities could be funneled to various development projects – the bulk of which could be earmarked for electrification at 50-percent; development and livelihood programs corner 25-percent; while the balance of 25-percent could be allocated for reforestation, watershed management, health and/or environmental enhancement endeavors.
In a statement to the media, FDC Utilities Inc. (FDCUI) noted that “as the country combats the spread of the coronavirus pandemic, the DOE has authorized the utilization of ER 1-94 funds to help host LGUs enhance their health services.” FDCUI is the parent firm of FDC Misamis Corporation.
FDC Misamis President and CEO Juan Eugenio L. Roxas said “the immediate remittance of the financial benefit provides our host communities with added security and available resources to ensure they have a fighting chance of enduring the effects of Covid-19.”
He added their company “understands how essential it is to strengthen the capabilities of our stakeholders,” especially at this time when tight financial resources have been pushing the government on the edge when it comes to enhancing strategies against the health crisis.
Following the fund remittance by the Gotianun-owned power firm, Governor Yevgeny Vincente “Bambi” Emano has been prompted to direct their provincial health office “to use the funds to deter and protect residents from the spread of the virus.”
Essentially, the provincial government noted that the endowment from FDC Misamis eased earlier worries of Dr. Jerie P. Calingasan, the provincial health officer and chairman of the provincial inter-agency task force, on the fact that they “may no longer have sufficient funds to purchase additional rapid diagnostic tests.”
Emano stressed “with the presence of Filinvest right now, with P9.0 million, I can triple, quadruple assure you that all of those if you want, you can use it to prevent and defend our people versus Covid-19.”
FDCUI also reported the turnover of financial benefits to its other host communities – summing up to P53 million of ER 1-94 fund.
Of the amount, the company specified that P14 million had been submitted to the DOE; while P26 million had been remitted directly to the host-LGUs.
Aside from the fund bequeathed to Misamis Oriental province, the other LGU-beneficiaries of the ER 1-94 financial resources have been: the municipalities of Villanueva and Tagoloan; then barangays Tambobong and Balacanas in Villanueva town; and Barangay Santa Cruz in Tagoloan town.