BPC subsidising mining companies � CEO
Friday, February 10, 2017
Latest BPC financial results for the year up to march 2015, show that the Corporation recorded an operating loss before tariff subsidy of P1.996 billion compared to P1.398 billion in the previous year. The mining sector consumes about 35% of the BPC total supply.
From the 3.9 GigaWatthour (GWh) the Corporation supplied in 2015, the mining sector consumed 1,194 GigaWattHour (GWh) or 1.194 billion KWh of power from BPC contributing P760 million in revenue to the power utility. “The tariff for mining is about 25 thebe below the production costs. “Because of the mismatch between the production costs and tariffs, government has been subsidising us. At BPC we can only work on being efficient.
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