Hedcor, Inc. celebrated its 25-year partnership with the National Power Corporation (NPC) in delivering clean and renewable enegry to the households, communities, and industries last February 20. The event was doubly significant as it also marked the end of the Electric Power Supply Agreement (EPSA) between Hedcor and the government-run agency.
Hedcor’s various hydropower plants such as Lon-oy Hydro, FLS Hydro and Labay Hydro in Bakun, the Bineng Hydros in La Trinidad and the Ampohaw Hydro in Sablan were contracted to NPC for 25 years in 1992.
The 25th year celebration of the partnership was highlighted with a Capping EPSA program held at Beckel, La Trinidad, Benguet. It was attended by NPC and Power Sector Assets and Liabilities Management (PSALM) representatives, some local government leaders from Benguet: Mayor Fausto Labinio from La Trinidad, Mayor Romeo Salda and Vice Mayor Manuel Munar from Sablan, and barangay captains of the host barangays.
“The bond between NPC and Hedcor endured the test of time without encountering any major problem. We have worked with cooperation and co-administration through the years,” beamed Atty. Rosalito Castillo, NPC IPPCM-INGRF Division Manager, in his message.
The Electric Power Industry Reform Act (EPIRA) enacted in 2001 removed monopolies in the power industry through privatization of NPC’s assets. It thus foster competition in the industry to make electric service more cost-effective and efficient.
EPIRA created the PSALM Corporation to take over the ownership of all existing generation assets of the NPC, and oversee implementation of independent power producer contracts, and the agency’s real estate properties.
“Our EPSA may have ended but our harmonious business relationship is a testament to our long-standing friendship, camaraderie, and professionalism that stood the test of time. In fact, our EPSA with Hedcor is one of the few agreements with no major dispute or issue encountered during contract implementation,” Ronald Conquilla PSALM Manager, stated.
Hedcor will now sell energy generated from the hydropower facilities in Bakun, La Trinidad and Sablan to Advent Energy, a Retail Electricity Supplier.
Hedcor assured its host barangays of its continued commitment to advance business and communities. For the past 25 years, the hydropower plants’ operation in the three municipalities has contributed close to 550 million pesos in voluntary shares, taxes, and other benefits.