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.