THE Power Sector Assets and Liabilities Management Corp. said Thursday it might disconnect 82 electric cooperatives and industries that it supplies with electricity because they owed it P20 billion.
“For [the electric cooperatives] which require legal action, these were already referred to our legal group for appropriate action,” said Emmanuel Ledesma, president of the company tasked to manage and sell the assets of cash-strapped National Power Corp.
“For [the electric cooperatives] due for disconnection, PSALM will send them a final demand letter before taking further action.”
Sources said 29 of the 92 PSALM customers that owed it money were cooperatives, and the rest industries.
The power buyers facing disconnection include Abra Electric Cooperative (P147,328 owed), Sorsogon Electric Cooperative (P408,383), Samar Electric Cooperative (P259,404), Northern Samar Electric Cooperative (P312,412), Lanao del Sur Electric Cooperative (P4.42 billion), and Maguindanao Electric Cooperative (P428,080).
PSALM and the National Electrification Administration are now in talks to discuss the debtors’ problems. On Feb. 11, the NEA wrote Ledesma to say that 81 electric cooperatives out of the 109 electric cooperatives under its jurisdiction—some are under the Cooperative Development Authority—owed P16.77 billion.
“NEA is closely monitoring the power accounts of electric cooperatives,” agency administrator Edita Bueno said.
“Loan windows were established for the purpose of helping the [cooperatives] promptly settle their power account obligations.”
Bueno said the 29 electric cooperatives owed P10.4 billion, with the Lanao del Sur Electric Cooperative owing the highest amount of P4.3 billion.
“The main reason for the accumulating power arrearages of [this cooperative] is poor collection efficiency due to the endemic culture in Lanao del Sur,” Bueno said.
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