The National Electrification Administration has extended various electric cooperatives across the country loans worth P263.78 million in just the first three months this year.
The financial assistance benefited 12 electric cooperatives (EC), mostly for capital expenditure purposes.
The NEA said P178.45 million was used to fund the capex requirements of nine electric cooperatives including the Tablas Island EC, Masbate EC, Iloilo II EC, Bohol I EC (BOHECO I), Bohol II EC, Leyte V EC, Bukidnon Second EC, South Cotabato I EC and Siasi EC.
Three electric cooperatives accessed loans worth P72 million for working capital, including the Camarines Sur III EC, Camotes EC and Negros Oriental I EC.
BOHECO I also borrowed P13.33 million in calamity loan to rehabilitate the Janopol mini hydro power plant earlier damaged by super typhoon Odette in 2021.
The NEA extends electric cooperatives financial assistance in the form of regular, calamity and concessional loans, stand-by and short-term credit loans, single-digit system loss, renewable energy and modular generator set loans.
It supervises all 121 electric cooperatives nationwide and monitor distribution system parameters such as systems loss and reliability, circuit kilometers and substation capacity to ensure these remain operationally reliant and technically efficient in delivering services.
