It stated P344.5 million changed into borrowed by five ECs to finance their monthly shortfalls at the settlement in their energy money owed with the era groups (GenCos) and the National Grid Corporation of the Philippines (NGCP). The ECs have to settle their arrearages with the technology organizations so that you can avail of the activate payment discount.
NEA stated Camarines Sur I Electric Cooperative, Inc. (Casureco I) and Zamboanga City Electric Cooperative, Inc. (Zamcelco) availed of the standby credit score mortgage facility for strength bills totaling to P298.156M to reinforce their creditworthiness with GenCos.
Meanwhile, three co-ops in Mindanao–Misamis Oriental II Electric Cooperative, Inc. (Moresco II), Agusan Del Norte Electric Cooperative, Inc. (Aneco) and Surigao Del Norte Electric Cooperative, Inc. (Surneco)–secured loans amounting to P207 million for the procurement of modular generator sets [gensets] to deal with electricity lack within the island especially throughout the summer season months.
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