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Provide a "game changer" model of Business Tax and Local Fees and
local, sustainable energy-based Permits, Watershed Management
community development which Fund (₱0.005/kWh, and share from
will lead to nancial and economic the National Wealth Tax (1% of annual
freedom or rural communities gross income).
without government funding via
partial ownership of the asset To top it all off, BENECO also
forever; volunteered to offer additional
nancial benets such as an average of
Promote the development of ₱0.26/kWh for Buguias and a
s u s t a i n a b l e h y d r o p o w e r Restricted Fund of ₱0.01/kWh which
resources; can be advanced for the LGU's
community projects.
Provide employment opportunities
th
for rural communities during And nally on the 26 year, the LGU of
construction and operation of the Buguias shall acquire 50% ownership
power plant; of the assets of the facility.
Moreover, under the coop's nancial If these benets can be matched by
feasibility projections, consumers will private developers, then there's no
be charged a generation cost of P5.38 point for anyone else to contest the
to P5.44/kWh for twelve years until business model of these known
loans to the Development Bank of the industry players, Versoza said.
Philippines are settled. After the debts
are paid, the rate will go down to as low Transition to 100% RE
as ₱1.50/kWh.
Benguet's total renewable energy
But that's not all. BENECO will comply potential is 30 times larger than what
with the mandated benets due to host BENECO needs to meet its current
communities provided under EPIRA demand. This is according to Engr.
(₱0.010/kWh), Real Property Tax, Aldwin Camance, who completed a
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