ABOITIZ POWER CORP. (AboitizPower) said its unit East Asia Utilities Corp. has decommissioned a 12.4-megawatt (MW) diesel generator unit in Cebu after concluding that the power was not viable for continued operation.
In a stock exchange disclosure on Monday, AboitizPower said East Asia Utilities accomplished the strategy of deregistering the asset from the system operated by the Independent Electricity Market Operator of the Philippines.
The move followed the corporate’s receipt of clearances from the Department of Energy and Energy Regulatory Commission, in compliance with guidelines for decommissioning or mothballing power plants.
The choice stemmed from a technical incident in May 2024 which, after evaluation, rendered the generator beyond economic repair, the corporate said. East Asia Utilities’ three other generating units remain unaffected and proceed to operate.
Positioned inside the Mactan Export Processing Zone 1 in Lapu-Lapu City, the unit’s bunker oil-fired power plant began business operations in 1998. It supplies electricity to industrial locators within the economic zone and to the Wholesale Electricity Spot Market.
AboitizPower is the Aboitiz Group’s holding firm for investments in power generation, distribution and retail electricity services.
Shares of AboitizPower fell 3.03% or P1.25 to shut at P40 each on Monday. — Sheldeen Joy Talavera