results of operations - Aboitiz

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DAVAO LIGHT AND POWER COMPANY Davao Light engineers check the giant mimic board inside the control center of the ERA substation. The board monitors the entire system to aid engineers to quickly respond to any power abnormalities. The automated system is linked to SCADA. POWER DISTRIBUTION 36 ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006
DAVAO LIGHT AND POWER COMPANY Preparing for future growth Davao Light and Power Company, the third largest electric utility in the Philippines, holds the franchise for distributing electric power to Davao City and Davao del Norte’s Panabo City and its municipalities of Carmen, Dujali, and Sto. Tomas, serving a combined population of over 1.4 million. The Davao del Norte area of the company’s franchise has seen substantial economic growth in recent years, fueled mainly by a vibrant banana industry. This growth has translated to an increased power supply demand of 24 MW in 2006 from only 5 MW in 1994. In fact, about 24% of the additional transformer capacity in 2006 was installed in the Davao del Norte franchise. In anticipation of further load growth in this area, Davao Light completed the π286-million Don Ramon Substation in December 2006. The substation, scheduled to be energized in May 2007, will also improve voltage delivered to customers, improve system reliability, and reduce system losses. To better serve the increasing number of its Davao del Norte customers, Davao Light spent π11 million in 2006 to renovate its Panabo branch office. The improvement ensures the branch is almost an independent service provider, much like a mini Davao Light head office delivering the same type of complete service to customers in its area. One of the service improvement initiatives in the Panabo branch was the creation of a team to handle rotten pole detection and replacement, thereby helping lessen unscheduled power outages. An anti-pilferage team was formed as well. A new emergency crew named ORBIT was also added to two existing teams. With the additional team, the branch had a 92% average emergency response time within three hours in 2006, exceeding the standard of 90% set by the Davao Light Engineering Team. Davao Light is also building a new substation in Tibungco to accommodate the expected aggregate load growth in the area of about 15 MW, mainly due to the increased With additional emergency teams, Davao Light’s average response time has even exceeded the standards set by the company. refrigeration requirements of the different fruit companies there. Moreover, the substation will improve the reliability of the distribution system around Panacan, Tibungco and Bunawan in Davao City, the slowly industrializing areas entering into the Davao del Norte boundary. ABOITIZ EQUITY VENTURES ANNUAL REPORT 2006 37
Page 2 and 3: CONTENTS Financial Highlights 2 Rep
Page 4 and 5: FINANCIAL HIGHLIGHTS 06 05 04 Reven
Page 6 and 7: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 8 and 9: We intend to list Aboitiz Power Cor
Page 10 and 11: Market Capitalization (in billion p
Page 12 and 13: RESULTS OF OPERATIONS FROM YOUR CHI
Page 14 and 15: RESULTS OF OPERATIONS VECO extended
Page 16 and 17: RESULTS OF OPERATIONS Subic EnerZon
Page 18 and 19: RESULTS OF OPERATIONS Hedcor, Inc.
Page 20 and 21: RESULTS OF OPERATIONS Luzon Hydro a
Page 22 and 23: RESULTS OF OPERATIONS UnionBank’s
Page 24 and 25: RESULTS OF OPERATIONS City Savings
Page 26 and 27: RESULTS OF OPERATIONS ATS has conve
Page 28 and 29: RESULTS OF OPERATIONS The increase
Page 30 and 31: REPORT TO OUR STOCKHOLDERS FROM YOU
Page 32 and 33: REPORT TO OUR STOCKHOLDERS Growth P
Page 34 and 35: SN ABOITIZ POWER, INC. With four ge
Page 36 and 37: HEDCOR, INC. A Hedcor engineer uses
Page 40 and 41: VISAYAN ELECTRIC COMPANY VECO linem
Page 42 and 43: UNIONBANK OF THE PHILIPPINES UnionB
Page 44 and 45: CITY SAVINGS BANK Moving forward, C
Page 46 and 47: PILMICO FOODS CORPORATION Living up
Page 48 and 49: ABOITIZ TRANSPORT SYSTEM The entry
Page 50 and 51: ABOITIZ GROUP FOUNDATION, INC. In 2
Page 52 and 53: CHRISTMAS OUTREACH PROJECT Expressi
Page 54 and 55: ABOITIZ FUTURE LEADERS’ BUSINESS
Page 56 and 57: ABOITIZ EQUITY VENTURES LOCATION OF
Page 58 and 59: CORPORATE OFFICERS Stephen G. Parad
Page 60 and 61: Independent Auditors’ Report The
Page 62 and 63: ABOITIZ EQUITY VENTURES, INC. AND S
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ABOITIZ EQUITY VENTURES, INC. AND S
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