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Corporate Governance Practices IACGR 2021 Annual and Sustainability Report 2023 ASM

Abreco Disconnection Postponed

27 Dec 2012

The supposed disconnection  of the  Abra Electric Cooperative (Abreco), originally scheduled at 12 noon, December 27, 2012, has been postponed until further notice to allow the cooperative more time to fully comply with its all of its obligations.

AP Renewables Inc (APRI) issued a fifth disconnection notice in December 17 due to the repeated failure of Abreco to comply with the following commitments : that payments be made in full and on time, that there no delays in the agreed payment schedule and that Abreco will process their WESM membership to allow them other options for their power supply. Moreover, Abreco has yet to post the security deposit of 32 million that was required in December 2011.

APRI operates the Tiwi-Makban geothermal power plants in Batangas, Laguna and Albay. It supplies one hundred percent of the power needs of Abreco, which serves the whole province of Abra.

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