BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 21, Volume III • Oct. 31-Nov. 3, 2011 Editorial: 088-856-3344
Market Indicators AS OF 5:35 P.M., OCT. 21, 2011 (Friday)
FOREX
PHISIX
US$1 = P42.80
4,333.72 points
; ; Briefly 0.48 cents
66.22 points
Normin’s budget
NORTHERN Mindanao gets the highest allocation in this year’s budget for Mindanao with P42.6 billion a 21 percent increase from last year. Department of Budget and Management (DBM) director Rolando Toledo said the internal revenue for the said region also increased to P13 billion and that P902 million will be allocated for Cagayan de Oro for infrastructure, personal services and other projects. “All of these are major developments for the country. This may not be 100 percent but we are getting to the “matuwid na daan” that Aquino promised,” Toledo said.
Business mission
CAGAYAN de Oro City officials visited Gwangyang, South Korea last week in a bid to lure businesses to the city. The business mission, led by Mayor Vicente Emano and accompanied by some members of the City Council and other local officials and business group, is expected strengthen trade relations between the two cities. The group reportedly met with officials of the government of Gwangyang las Friday where they will be building sistership tiesa and various executives from 31 giant companies. It was reported that those who will be part of the trade mission will spend their own personal funds and will not be entitled to any per diem or reimbursements for daily expenses during the trip as instructed by Emano.
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Solar energy can’t avert power crisis By BUTCH D. ENERIO Correspondent
S
OLAR power energy alone is not suffice to avert the power shortage in Mindanao because of its very low efficiency rate and its very high cost, an industry player said. AboitizPower First Vice President for Mindanao Manuel M. Orig Orig said that what Mindanao needs at the moment is base loadpower plants which can run 24/7 and are not climate dependent, just like solar. Solar power, he said, will only run 16 percent of the time, when there is sunlight. Orig also defended Energy Secretary Rene Almendras from calls for his
replacement by Cagayan Electric Power and Light family plays bingo onn top of a tomb as they take an early visit to their loved ones at the city Co. (Cepalco) official Dave A cemetery in Brgy. Bolonsiri to avoid the expected crowd during the All Soul’s Day and All Saints Tauli, who accused the gov- Day on Nov. 1 and 2. PHOTO BY ROLANDO SUDARIA ernment official of being biased against solar energy. Tauli, in his letters sent to media, accused Almendras of blocking solar power in Mindanao. Tauli also said the opposition to renewable energy THE series of “red alerts” of all reserves is less than projects stems from “owners in the Mindanao grid last 13.2 percent of the required capacity. When system SOLAR/PAGE 9 week have been dismissed as isolated and is expected reserves are more than sufto normalize once the plants ficient to meet the reserve on scheduled or emergency requirements of the grid, shutdowns are back and the system is considered synchronized to the grid, to be under normal condithe National Grid Corp. tion. The system alert and of the Philippines (NGCP) the corresponding power said in a statement. curtailment, if any, is lifted NGCP said the recent once demand recedes or series of “red alerts” was once there is enough availdue to generation deficiency able capacity coming into caused by the scheduled the grid from the power maintenance of some power plants. plants and the unexpected alert” refers to the system During periods of genshutdown or reduced ca- condition when the contin- eration deficiency, NGCP pability of others. gency reserve is zero or a implements the Mindanao NGCP, as system opera- generation deficiency exists, grid-wide power load curloral vendors are expected to make a heyday as prices of flow- tor, issues Grid Operation while a “Yellow alert” is a tailment to maintain the ers rise more than doubled during the todos los santos. Notices to grid users. “Red system condition where total POWER/PAGE 8 PHOTO BY ROLANDO SUDARIA
Mindanao power supply grid expected to normalize soon
Business leaders urged to make stand for Mindanao By
AI
EVERA- ACAPA AT Contributor
MATI City Business leaders during Friday’s Asenso at Negosyo Sa Turismo forum held here were urged to make a voice after the Basilan encounter that killed nine soldiers. Quezon Province Representative Lorenzo R. Tanada III, who was the guest speaker in the forum, asked business leaders to make a stand on how they would want the government to move and forward peace efforts for Mindanao. “There had been clamor for an all-out war against the MILF but we know that it
wouldn’t be that easy. Businessmen would definitely be one of the most affected sector if we push for an all-out war,” he said. Tanada has been roaming around the country specifically Mindanao to get the pulse of the people, on what they need and how they would want the government to do after the Basilan incident. “The President finds it high time to ask the different stakeholders in Mindanao to make a stand. Instead of becoming too emotional, we should be sober and calm to come up with a right analysis,”, LEADERS/PAGE 8