C04513-2021

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 29, 2021
2. SEC Identification Number
C199800134
3. BIR Tax Identification No.
200-652-460-000
4. Exact name of issuer as specified in its charter
ABOITIZ POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
(02) 8 886-2800
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock P1 Par Value 7,358,604,307
Amount of Debt Outstanding (As of Mar. 31, 2021) 234,782,470,000.00
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Aboitiz Power CorporationAP

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Hedcor advised to continue operating Bakun hydros
Background/Description of the Disclosure

In a letter dated June 25, the Department of Energy (DOE) advised Hedcor to continue operating its FLS Hydro, Lon-oy Hydro, and Lower Labay Hydro Plants.

In the said letter, DOE underscored its mandate pursuant to the Electric Power Industry Reform Act of 2001 “to ensure the quality, reliability, security, and affordability of the supply of electric power especially during this period of health pandemic.”

As such, DOE advised Hedcor to continue operating the Lower Labay, Lon-oy, and FLS hydropower plants given the “shortage of available capacity from the grid caused by the unavailability of large power plants as well as derated operation of operating power plants aside from the high system peak demand due to high ambient temperature.”

The DOE likewise reiterated its advisory dated 02 March 2021 entitled, “Ensuring Reliable and Stable Electric Power Supply during the Government’s COVID-19 Vaccine Rollout Program” enjoining all Generation Companies, including Government-owned and Controlled Corporations and private sector-operated and/or owned generation facilities to ensure availability of power supply at the maximum dependable capacities of respective generation facilities and provide the necessary support for COVID-19 vaccine cold storage and healthcare facilities, as well as installing backup power supply, as needed.

Furthermore, DOE pointed out that as the Energy Regulation 1-94 (ER 1-94) funds are dependent on the kWh generated by power plants, stoppage of operation of power facilities will affect the mobilization of the said funds for COVID-19 response.

“We recognize the concerns of our Bakun IP community and our doors remain open for dialogue. We believe that the tongtongan is crucial to the resolution of this issue, not only to protect the welfare of our IPs/ICCs, but also to fulfill our contribution to ensuring the availability and reliability of power supply for the country,” said Noreen Vicencio, Hedcor’s Vice President for Corporate Services.

Hedcor is ready and willing to sit in a tongtongan with the Bakun IPs at the soonest possible time to address issues and concerns and to realize a way forward that sustains the gains and strengthens the relationship carefully built over the past three decades.
Other Relevant Information

The disclosure has been amended to update the Exchange on the Department of Energy's advise to continue operating Hedcor's FLS Hydro, Lon-oy Hydro, and Lower Labay Hydro Plants.
Filed on behalf by:
Name Mailene de la Torre
Designation Asst. Corporate Secretary