The Energy Regulatory Commission will hear the application for approval of the amendment to the power sales contract between Korea Electric Power Corp.-Salcon Power Corp. and Central Negros Electric Cooperative at the CENECO office in Bacolod City at 9 a.m. today.

CENECO president Arnel Lapore said the hearing will inform consumers and other stakeholders about the rationale for the amendment of the contract and its effects.

Lapore said that so far, no groups or individuals have expressed opposition to the amendment of the power contract between CENECO and KEPCO SPC.

Earlier, he said, a maximum increase of P0.16 in electricity rates will be implemented once the ERC approves the petition.

KEPCO-SPC and CENECO filed the application for the amendment of the contract with the ERC on February 17, with a motion for the issuance of provisional authority.

CENECO and KEPCO-SPC entered into a power sales contract on July 16, 2007 and the ERC approved it on December 16, 2008 with the rate of P4.2511 for every Kilo Watt hour.

On July 2011, CENECO and KEPCO-SPC entered into a supplemental agreement on their current contract for additional capacity with an option to treat the additional quantity as intermediate power supply.*APN

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