About the Report, Scope, and Boundary

About the Report,
and Boundary


We are proud to present the 2021 Integrated Report of the Energy Development Corporation (EDC), prepared in accordance with the reporting framework set forth by the International Integrated Reporting Council (IIRC). This report covers our financial, environmental, social, and governance performance pertaining to the period January 1 to December 31, 2021.


  • Equity capital
  • Debt and grants
  • Internally Generated
  • Funds
  • Enterprise Asset Management
  • Portfolio Organization


  • Contracted capacity
  • Revenue growth
  • Income and cash flow generated
  • Steamfield and pwer plant assets under construction
  • NatCat resiliency improvements

Value Created

  • Directed value distributed
  • Internally-generated funds
  • Dividends to shareholders
  • Debt service to creditors

Contribution to SGDs


  • Mismatch in contacting cycles
  • Volatility of interest and foreign exchange rates Fund sourcing
  • Climate change impacts

"We know from generations of experience that it is by living according to these values that a company can be built to last."

Federico R. Lopez  

Chairman & Chief Executive Officer

Integrated Reporting
IR Standards In 2020, EDC shifted to the International Integrated Report Framework to enhance the integration of its capitals within its business operations and its strategies to create value over time for its stakeholders and shareholders. These capitals are financial, manufactured, human, social and relationship, intellectual, and natural. With this framework, EDC can improve the quality of information it discloses and enhance accountability and stewardship among the capitals and their interdependencies.

Global Reporting Initiative (GRI) Standards
This report has likewise been prepared in accordance with the GRI Standards: Comprehensive option.

EDC has been using the GRI Standards to disclose and discuss its material topics for over ten (10) years. It takes advantage of the modularity, clear structure, and comparability of the relevant disclosures of the framework.

The GRI Standards are one of the most widely used as it is considered the gold standard in sustainability reporting. Organizations use it to report their impacts on the economy, environment, and society.

Task Force for Climate-related Financial Disclosures (TCFD)
The TCFD is established to develop climate related disclosures and further understand the concentrations of carbon-related assets and exposures to climate-related risks. The EDC 2021 Integrated Report follows the TCFD Framework, ensuring that the governance structures, business strategies, environmental impacts and disclosures, and future metrics and targets of the Company are aligned with the global requirements.

External assurers have rigorously reviewed the EDC 2021 Integrated Report to ensure accuracy and balance of disclosures. EDC will utilize their insights and recommendations to enhance and guide our organization’s reporting practices and disclosures moving forward.


Editorial Board

Erwin O. Avante

Marvin S. Bailon

Allan V. Barcena

Agnes C. De Jesus

Ma. Elizabeth D. Nasol 

Regina Victoria J. Pascual 

Joy J. Santamarina

Jay Joel L. Soriano



Frances L. Ariola


Technical Editor

Paulo M. Gooco


Content Editors

Soleil Micah O. Acu


Jolly Anne Joy V. Jamoralin


Dr. Lina Rose Alcances 

Erlindo C. Angcoy

Jem C. Austria

John Kevin D. Benico 

Ryan Anthony B. Bogayan 

Gideon Adriel E. Butalid 

Rowena Grace D. Camacho 

Dorothy F. Cardenas

Rich Paul C. Cosio

Christian Roy R. Dadios

Jaime N. Dumlao III

Mheryl Anne B. Espinosa 

Engellau F. Flores

Melanie F. Gatbonton 

Marie Kristine Margaret L. Garcia

Ferdinand R. Geronimo 

Ronino C. Gibe

Kristina Irene D. Go 

Maria Nancy P. Ibuna

Eduardo L. Jimenez

Rhoel Enrico R. Olivar

Cherrylane E. Santiago 

Ruth Dianne M. So 


Jimson S. Solatre

Sustainability Consulting, Editorial, and Design 

DRINK Sustainability Communications



Andrei Apostol

Bong Bajo

Hersley Ven Casero 

John Carlo P. Despi 

Tom Epperson 

Albert Labrador

Ronald Macatulad 

Paul Nicole Magaway 

Marlon Matiga


Martin San Diego

Technical Working Group

BacMan Geothermal Facility

• Anthony Buising

• Cheryl B. Mandane

• Daryl B. Gamez

• Debbie Anne B. Mortega 

• Franklin N. Elizaga

• Ken Michael L. Florece

• Kristine Mae A. Silang

• Leah A. Herrera

• Leny D. Doctor

• Michelle B. Madrona

• Neil Anthony P. Miras

• Nora M. Africano

• Paolo A. Digo

• Ramon A. Parafina III 

• Rommel C. Collantes 

• Rowena B. Daep


Business Continuity Management

• Lara N. Jason

• Norman D. Samonte



Corporate Governance Office – Strategic Initiatives Legal and Regulatory Office

• Marita P. Lagos

• Kristina Irene D. Go

Corporate Support Functions

• Abegail Y. Gatdula

• Cherrylane E. Santiago 

• Edwin G. Murillo

• Engellau F. Flores

• Ferdinand E. Lunaria

• Frances L. Ariola

• Jimson S. Solatre

• John Kevin Benico

• Jolly V. Jamoralin

• Dr. Lina Rose A. Alcances

• Marco D. Macapagal

• Marco Macapagal

• Maria Nancy P. Ibuna 

• Melanie F. Gatbonton

• Paulo M. Gooco

• Ronino C. Gibe

• Ryan Anthony B. Bogayan 

• Soleil Micah O. Acu

Corporate Treasury

• Cirila V. Romblon 

• Clarisse Joyce B. Elloso

• Liza C. Po


External Assurance Host, University of 

Asia and the Pacific – Center for Social 


• Colin Legarde Hubo

• Francesca Louisse M. Cabugoy

• Lindsay Anne Estacio


Facilities Operations and Maintenance Group

• Christian Roy R. Dadios 

• Christine Japet S. Batilo

• Laurence A. Romero

• Mheryl Anne B. Espinosa

First Gen Hydro Power Corporation

• Maria Christine T. Mapanao

• Rodante S. Daludado


Integrated Sub-Surface Group

• Emerose M. Devilles

• Erlindo C. Angcoy

• Jaime Jemuel C. Austria, Jr.

• Marianne J. Paje


Leyte Geothermal Facility

• Albert M. Azarcon

• Aldrine O. Almanzor

• Arianne A. Saludares 

• Denes R. Alpos

• Dexter A. Arcenal

• Erwin B. Magallanes

• Gilbert C. Milallos

• Gilbert Millalos

• Glen Ceballos

• Jana Lyn Catipay

• Jennifer D. Wenceslao 

• Johnre P. Alila

• Jorobel D. Rom

• Jose Allan M. Degamo 

• Jusette Orovillo  

• Leizley Sieras – Apas

• Leonita P. Sabando

• Lorena M. Daco-ag

• Ma. Liza T. Tumanda

• Ma. Sybil C. Villegas

• Marcelo M. Dinoy Jr.

• Mariel Joy R. Maceda

• Melezra Amora

• Nerelito M. Pascual Jr. 

• Normann M. Buscato

• Proceso C. Escoton

• Rogeberto P. Suson

• Salvador P. Corros

• Syrill S. Yap

Mount Apo Geothermal Facility

• Eduardo Z. Morales, Jr.

• Karen Kaye Abarientos

• Luis E. Gonzales

• Myrissa L. Tabao

• Raymund G. Dauz

• Romeo I. Kee

• Sherwin Melvin Burton E. Lucas 

• Vicente G. Llorente

Negros Island Geothermal Facility

• Alex D. Faciolan

• Ariel H. dela Crux

• Aubrey A. Bangaysiso

• Bernard Tia

• Carl Vincent P. Dipaling 

• Cesar B. Villaflor

• Cliff V. Z. Concepcion

• Cromwell C. Ozoa

• Dominador S. Canatoy III 

• Francis B. Saguban

• Jan Mark Wong

• Jane C. Ramirez

• Jaymar Matia-Ong

• Jayvi P. Valenzuela

• Jennifer Espartero-Dales

• Jennifer F. Dayon

• Joeny Q. Bermejo

• Leo A. Alon

• Maisie Kirstine Isobelle B. Cahambing

• Marcial M. Alcarez

• Marie Christine C. Jamiana

• Neil Vic A. Divinagracia 

• Nichole B. Macasero

• Noel R. Tan 

• Norreen G. Bautista

• Paulino Agudo

• Rhea F. Tumala 

• Robert Marcellin T. Gajo

• Ruben Ang Jr.

• Sam E. Antiporta

Strategy and Commercial Group
• Ruth Dianne M. So

Supply Chain Management
• Kyle Chua
• Marc Kevin Tan
• Shaila Jennel H. Zacarias

Wind Ilocos Norte Business Unit
• Deborah G. Sabarre
• Jansen Paul H. Chano 
• Rosalyne C. Arucan