Manila, July 18 -- The Western Mindanao Power Corp. (WMPC) and the Zamboanga City Electric Cooperative Inc., under the management of Crown Investment Holdings Inc. (Crown Zamcelco), have reached an agreement to ensure the continuing provision of power to Zamboanga City for a period of 90 days upon the agreement's signing.
The agreement is currently awaiting final approval by the Energy Regulatory Commission (ERC).
During the 90-day period, the WMPC will continue to dispatch power to Zamboanga City upon Crown Zamcelco' s nomination and under the terms of the existing power sales agreement (PSA) entered into by the two parties in December of 2015.
Under the agreement, Crown Zamcelco, upon signing, will pay PHP150 million to WMPC as part of...