Another power monopoly emerging in south

Another power monopoly emerging in south - INQUIRER.net, Philippine News for Filipinos

In the south, the Aboitizes, who control the second and third largest distribution franchises in the country—those in Cebu and Davao—want to borrow from the Lopez monopoly playbook. While already in the generation business, mostly in hydro projects in Luzon, they now want to also take advantage of their hold on the power market, as the controllers of the 300-megawatt Visayan Electric Co. in Cebu provinceand the 280-megawatt Davao Light and Power in Davao province. And they now want to be the principal power generator.

The Aboitizes in Cebu are now planning to build a 200-megawatt coal plant in joint venture with the Global Business Power of the Metrobank group after the Korean Electric Power balked at a reported demand of 25 percent in free equity in exchange for a power supply contract, (The Lopezes got 60 percent of First Gas using PPA charges.) The evolving conflict of interest in Cebu and Davao is going against the tide of consumer backlash in Metro Manila.

I didn't know KEPCO backed out because of CORRUPTION.....