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www.mindanaodailybalita.com VOL. 1, No. 297
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Tuesday
May 8, 2012
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AboitizPower income hits P5.6 billion in first quarter By PAT SAMONTE, Regional Editor-Caraga
BUTUAN City––Aboitiz Power Corporation closed the first quarter of 2012 with a consolidated net income of P5.6 billion, up by 10 percent over the same period last year, mainly due to higher economic activity in the country which led to higher demand for power.
In a statement, AboitizPower president and CEO Eramon Aboitiz said: “Our revenue for the first quarter was propelled by a higher demand for energy, something we foresee continuing with higher levels of economic activity. AboitizPower is anticipating the
increased demand for electricity by building the right mix of energy sources on its generating portfolio to be able to deliver better power solutions to customers at reasonable prices.” The power firm is also set to pour P170 billion in new investments, particularly in Mindanao, Aboitiz said. “To help provide solu-
tions to the growing demand for energy in the country, AboitizPower will participate in the development of various greenfield projects, both hydro and clean coal, in the next three to five years. In Mindanao alone, to ease the critical power shortage in the island, we have committed to invest P35 billion to add 354 megawatts of new
capacity by 2015. We will also rehabilitate existing plants to maximize capacity and improve reliability. We estimate the combined cost for new projects and rehabilitation to reach P170 billion,” said Aboitiz. The Cebu-based company’s power generation business recorded an income contribution of P5.1 bil-
Oil firms overprice prices by P8: solon
Erwin Tulfo, center, anchors TV5’s news program, “Aksyon.” He also co-hosts the public service program, “T3,” with his brothers Raffy (left) and Ben.
Oil companies reaping mind boggling superprofits due to overpricing since 1999
Erwin Tulfo to Raymart Santiago: ‘Magkape nga tayo’ ONE day after the muchtalked about fight between tri-media commentator Mon Tulfo and actor Raymart Santiago, Tulfo’s younger brother, TV5 anchor Erwin Tulfo, called out Santiago for a “chat.” On his morning radio program on 92.3 NewsFM, the radio station of TV5, Erwin said:”Basta ako, Raymart, sabihin mo lang kung saan mo gustong magkape. Isama mo pa ‘yung walong kasama mo at si Claudine. Darating ako. Siguraduhin mo lang TULFO/PAGE 6
CebuPac says ‘sorry’ By ERIC B. APOLONIO of InterAksyon.com
LOW-COST carrier Cebu Pacific on Monday expressed regret over the offloaded luggage of actress Claudine Barretto, which sparked the fight between Philippine Daily Inquirer columnist and TV5 host Ramon Tulfo and Claudine’s husband SORRY/PAGE 7
WEATHER UPDATE DIFFUSED Tail-end of a Cold Front affecting the Eastern section of Northern and Central Luzon. Trough of a Low Pressure Area (LPA) affecting Southern Mindanao. The eastern section of Northern and Central Luzon and Southern Mindanao will experience mostly cloudy skies with scattered rainshowers and thunderstorms. Light to moderate winds blowing from the northeast will prevail over Northern Luzon and coming from east to southeast over the rest of Luzon and Visayas and coming from the east to northeast over Mindanao. The coastal waters throughout the archipelago will be slight to moderate. SOURCE : PAGASA
lion, posting a modest three percent increase for 2011. This was propelled by a 34 percent average increase in the price of electricity in the Wholesale Electricity Spot Market due to both supply and demand condition in the Luzon Grid. The average plant outages in Luzon were higher INCOME/PAGE 7
THEY ARE PNOY’S BOSSES. These blind couple are making their earn-
ings from the passers-by who give them money while playing their instruments. This despite the crisis in fuel and other basic commodities they still manage to survive.Photo by Gerry L. Gorit
A L AW M A K E R yesterday called on the Independent Oil Price Review Committee (IOPRC) to look into allegations that as of March 2012, the price of diesel is overpriced by as much as P7.86 per liter and gasoline by P16.18 per liter. Partylist Rep. Teddy Casiño said the IOPRC is scheduled to hold a OIL/PAGE 7
Oro press freedom forum seeks positive action to decriminalize libel By GERRY L. GORIT, Photo-journalist
CAGAYAN de Oro City–– Representatives from various sectors have agreed to seek positive actions to decriminalize libel during
the celebration of World Press Freedom Day here on May 4, 2012. No less than a city councilor, who attended the fo-
rum, told the organizers that he will introduce an ordinance in the city’s council to petition lawmakers in the national level to fastrack the passage of a law that will LIBEL/PAGE 3
858 COGON MARKET COMPLEX GRAND OPENING JUNE 2, 2012