SPI, regional partners formalize ER 1-94 financial benefits to help boost Northern Mindanao's socio-economic growth and development

SPI recently participated in the ceremonial signing of a Memorandum of Agreement (MOA) between Generation Companies in Region X and the Regional Development Council (RDC X). This event, held at the National Economic and Development Authority (NEDA) Regional Office in Cagayan de Oro, formalized the grant and utilization of financial benefits to communities and regions hosting energy generation plants under the Department of Energy (DOE) Energy Regulations (ER) 1-94.

The ER 1-94 financial benefits are designed to support key development projects and help drive economic growth across the region.

RDC X Chairperson and Lanao Norte Governor Imelda Dimaporo, together with NEDA X Director and RDC X Co-Chairperson Myla Faye Carino, led the ceremonial signing activity, along with representatives from the different generating companies and the Mindanao Office of the Department of Energy. SPI's COMREL Manager, Jerome Soldevilla, represented SPI.

Over the years, SPI has set aside an aggregate amount of over PHP 10 million, representing Northern Mindanao's share to back various development initiatives. This highlights SPI's continuing commitment to promoting sustainable growth and development in the region.