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DMC, other IPPs face stiff fine for power deal breach with electric coop in Palawan

01 Jun

The Palawan Electric Cooperative (PALECO) will hold the DMCI Power Corporation (DPC) of DMCI Holdings, Inc. (DMC) and other independent power producers (IPPs) responsible for the lingering rotational load shedding problem in this city and the province that violates the Power Supply Agreement (PSA).

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Lawyer Raymund Acosta, chairman of the board of directors of the PALECO, said that their legal counsel is now reviewing the sharing agreements signed with the independent power producers, and will impose sanctions on them even in the absence of penalty clauses.

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Posted by on June 1, 2015 in Corporate News, DMC, Stock Market

 

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