The Freedom from Debt Coalition (FDC) yesterday asked Senator Noynoy Aquino to stop the ongoing sale of the Angat Dam as a hydro-electric power plant, saying that the privatization of the dam could compromise water supply and irrigation in Metro Manila and nearby provinces. FDC secretary-general Milo Tanchuling said about the dam:
"Angat Dam is the single-most important water source of Metro Manila, providing 97 percent of the water needs of at least 12 million residents of the country’s capital. The dam also irrigates some 31,000 hectares of farms across 20 towns and municipalities in Bulacan and Pampanga."
A component of the Angat Dam is the 218-megawatt hydro-electric power plant (HEPP); however, it also functions as the primary water supply for Metro Manila. Both electricity and water costs are expected by FDC to shoot up once the privatization is finalized.
The Korea Water Resources Development Corp. (K-Water) - owned and controlled by the Republic of Korea - submitted the highest bid last April 28 at $440.8 billion. Power Sector Assets and Liabilities Management Corporation (PSALM), the agency handling the hydro-electric power plant's sale, is expected to announce the winning bid after verifying the accuracy, authenticity, and completeness of the bid documents submitted.
K-Water will operate and maintain the Angat Dam at no cost to the government as soon as it is declared the winning bidder. Parts of K-Water's obligations include keeping the dam compliant to international safety standards and addressing its structural weakness.
In addition, K-Water is also looking into the possibility of a greenfield hydro project in Northern Luzon, according to Department of Energy (DOE) assistant secretary Mario Marasigan.
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