News

Meralco begins paying around US$2.059 million worth of payouts next month for about 800,000 incidents where service commitments were not met. Incidents are the number of times that Meralco was unable to meet Guaranteed Service Levels provided under the performance-based rate mechanism. Customers are compensated if the distribution utility is unable to meet performance thresholds in duration and frequency of power interruptions, restoration time and connection time. The said amount is for the first regulatory year of the PBR, which was from July 2007 to June 2008.

Sinohydro Corporation and Electricite Du Laos will construct two hydro-electric power plants and a power transmission line, according to China Daily. The projects have a cumulative worth of about $559 million.

After being chosen by the Cambodian government to facilitate tax payments, Acleda Bank's ATMs will now receive electricity payments in behalf of the Electricité du Cambodge. EDC is a state-owned limited liability company to generate, transmit, and distribute electric power through-out the Kingdom of Cambodia. Acleda Bank Plc. has deployed 62 ATMs and plan to deploy 105 ATMs more before the end of 2009 in response to the requirements and servicing to clients and public including customers of EDC. "ACLEDA Bank has a wide branch network connected by modern telecommunications systems and is well established in the country, especially in Phnom Penh and Kandal province with deploying ATMs to provide services for 24 hours in 7 days per week. Furthermore, the using of commercial banking system to manage the payment transactions of using electric power is designed to enhance the financial accountability of EDC with effectiveness," said H.E Keo Ratanak, Royal Government of Cambodia Delegate in Charge of Managing EDC, on why they selected Acleda Bank to receive payments in its behalf. President and CEO of ACLEDA Bank Plc., Mr. In Channy, said that "ACLEDA Bank Plc. is proud in receiving confidence and being selected by EDC to provide payment services of using electric power through Acleda Bank's ATM after ACLEDA Bank has been selected by the Ministry of Economy and Finance for providing banking services on national revenue and expense transactions in June."

Kepco is planning to incorporate smart grid technology in expanding in the Philippine wind and hydro power plant projects.

Aboitiz Power won a negotiated bid to acquire two barge-mounted, diesel-powered generation plants from PSALM. Each of the plants has a generating capacity of 100 megawatts.

Datang generated 61.3 billion kilowatts electricity in the first half of this year, representing a decline of 1.5 percent year on year.

Meralco customers will enjoy another reduction in their power bills following a drop in the generation charge this month.

Japanese electricity demand in June was down 7.9 percent on last year to 64.4 billion kWh. This was measured in terms of the total electricity sales of the 10 power companies in Japan.

ABB declared that it will continue to honor its commitment against desertification despite the challenges posed by the economic crisis.

Unaudited profit after tax for the first half of 2009 attributable to shareholders of CKI amounted to HK$3,885 million. The figure is a 67 percent improvement over the corresponding period in 2008.

The realisation of renewable energy in Hong Kong progressed after the EIA's approval of CLP and Wind Prospect's proposed offshore wind farm project. It signifies that building a commercial scale offshore wind farm of up to 200MW in the south-eastern waters of Hong Kong is environmentally acceptable.

AREVA and Astonfield have agreed to form a strategic partnership to develop biomass power plants across India. It is projected to produce a total output of 100 MW at an estimated investment of around US$142.5 million.

Powergrid reached a deal with NTPC Ltd to undertake the US$9.8 million turnkey execution of D/C Transmission line from Dadri to Loni.

CEM's Tariff A, covering consumers from residential and small and medium enterprises, remain unchanged at US$.0288 per kWh.

The Tata Power Company Limited, India's largest integrated private power company, has priced an equity offering in the form of Global Depository Receipts for a gross amount of $335 million to fund capital expenditures of existing and future projects. Each GDR will represent 1 equity share, of a nominal value Rs.10 per equity share of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at $22.577 as per relevant pricing guidelines for GDRs. The issue was priced on 21 July 2009 and listing is expected to take place on or about 27 July 2009.

China WindPower raises US$74.7 million through share placement at the placing price of US$.1097 per share for 700 million shares.