By Lenie Lectura
- March 12, 2020
THE National Electrification
Administration (NEA) released in February this year an additional P51.596
million in calamity loans to six electric cooperatives (ECs) operating in
Mimaropa, Bicol and Eastern Visayas regions.
Latest data from the NEA
Accounts Management and Guarantee Department (AMGD) showed that the following
ECs availed themselves of the calamity loan: Lubang Electric Cooperative Inc.,
P450,443; Tablas Island Electric Cooperative Inc., P426,936; Ticao Island
Electric Cooperative Inc., P5.982 million; Sorsogon I Electric
Cooperative Inc., P18.353 million; Sorsogon II Electric Cooperative, P5.878
million; and Northern Samar Electric Cooperative, Inc., P20.506 million.
NEA said this will help the ECs in
the rehabilitation of their power distribution facilities damaged by Typhoon
“Tisoy” in December last year.
In January 2020, the NEA extended
P31.246 million worth of financial assistance to four ECs in Bicol region and
Mimaropa for the rehabilitation of their damaged distribution systems due to
the typhoon. These were Oriental Mindoro Electric Cooperative Inc. Masbate
Electric Cooperative Inc., Camarines Sur III Electric Cooperative Inc., and
Marinduque Electric Cooperative Inc.
The calamity loan being offered
by the NEA has a 10-year repayment term or based on the EC’s remaining
franchise life, with a maximum grace period of one year and an interest rate of
3.25 percent per annum.
Typhoon “Tisoy” made landfall in
Gubat, Sorsogon, on December 2, 2019. It caused P911.668-\ million worth of
damage and losses to 27 ECs in Luzon and Visayas, according to the NEA Disaster
Risk Reduction and Management Department.
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