Vol. XXII, No. 133 [ BusinessWorld Online ]
Friday, February 6, 2009 | MANILA, PHILIPPINES
ORMOC CITY — The Leyte provincial government is pressing the Energy Development Corp. to pay its past due real property taxes.
As of end-2008, the provincial treasurer’s office said EDC owes P894.5 million in real property taxes. The properties covered are the 125-megawatt Upper Mahiao Plant in Barangay Lim-ao and the 231-megawatt Malitbog Power Plant in Barangay Tongonan, both in Kananga town.
Rodolfo P. Badiable, Leyte provincial treasurer, informed EDC resident manager Manuel C. Paete about the unpaid accounts dating back to 2004. "We have demanded the immediate settlement of these liabilities the soonest time possible to avoid incurring penalties," Mr. Badiable said.
Failure to pay these will force the provincial govern-ment to initiate public auction proceedings. Ormoc city Mayor Elmer C. Codilla said EDC executives had called him on the matter. "I told them there’s only one solution and that’s for them to pay," Mr. Codilla said.
EDC, formerly Philippine National Oil Company -Energy Development Corp., is the Philippines’ largest producer of geothermal power, accounting for over 60% of the country’s 1,905 MW geothermal capacity. — G C. Reyes, Jr.
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