C-REC Resolution No. 2018-07-002: Effecting Automatic Termination of Renewable Energy Service/Operating Contracts (RES/OCs), Petroleum Service Contracts (SCs) and Coal Operating Contracts (COCs)

 

Republic of the Philippines
Department of Energy
Centralized Review and Evaluation Committee

C-REC Resolution No. 2018-07-002
 

 

In the Third (3rd) Continuation of the Twelfth (12th) Regular Meeting of the Centralized Review and Evaluation Committee (C-REC) on 31 July 2018 during which a valid quorum was present, the following resolution was presented and was approved/adopted by the Members:

C-REC Resolution No. 2018-07-002: Effecting Automatic Termination of Renewable Energy Service/Operating Contracts (RES/OCs), Petroleum Service Contracts (SCs) and Coal Operating Contracts (COCs)

After due deliberation thereon, the C-REC Members

RESOLVED, as it is hereby resolved, That C-REC shall implement automatically the contract provisions on the Expiration of Term and Termination, as stipulated in various contracts of renewable energy service/operating contracts (RES/OCs), petroleum service contracts (SCs) and coal operating contracts (COCs), where respective contracts provide for automatic termination clause. Accordingly, no Show-Cause Order shall be necessary to terminate the respective contracts issued to developers who either failed to perform their respective obligations and/or whose pre-development stage has already expired.

Approved and adapted this 31st day of July 2018 at BGC, Fort Bonifacio, Taguig City.

 

 

  (Signed)
Donato D. Marcos

Undersecretary
Chairperson, C-REC
 

 

   

(Signed)
Caron Aicitel E. Lascano

Assistant Secretary
Vice Chairperson

   

(Signed)
Redentor  E. Delola
Assistant Secretary
Member

  (Signed)
Gerardo D. Erguiza, Jr.

Assistant Secretary
Member
  (Signed)
Leonido J. Pulido, III

Assistant Secretary
Member

 

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