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NEA sets sinking fund policy for power coops on calamities; ECs, to seek higher rates for the fund

Media Release

17 September 2014

The National Electrification Administration (NEA) Board of Administrators has passed the “Policy for the establishment of a sinking fund to cover extraordinary losses and expenditures arising from force majeure, natural calamities and risk factor” which aims to authorize the electric cooperatives (ECs) to establish a sinking fund from a certain percentage of their accumulated margins to cover extraordinary losses and expenditures arising from force majeure, natural calamities and risk factors. Hence, NEA and the electric cooperatives nationwide will seek higher electricity rates to set up a mobilization fund in the event of such cases.

 

Section 5 of Republic Act No. 10531 mandates the NEA to strengthen the electric cooperatives (ECs), help them become economically viable and prepare them for the implementation of retail competition and open access. Under Section 5(j) of the same law, NEA is authorized and empowered to ensure the economic and financial viability of the ECs.


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Petilla: “Yolanda” was NEA’s finest hour

Media Release

07 August 2014

Energy Secretary Carlos Jericho L. Petilla said “Yolanda” was the National Electrification Administration’s (NEA) “finest hour,” after he saw prompt assistance given to typhoon-hit electric cooperatives (ECs) through mobilization of the agency-initiated Task Force Kapatid (TFK).

 

Secretary Petilla was the guest of honor and keynote speaker at the 21st NEA-ECs Consultative Conference held at the Philippine International Convention Center (PICC) on August 6, 2014. The gathering coincided with the 45th Foundation Anniversary celebration of NEA.


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Power coops reduce system loss

Media Release

24 June 2014

The Electric Cooperatives being supervised by the National Electrification Administration (NEA) posted an average record low of 11.61% in 2013, a reduction of 0.13% from the 11.74% in 2012 and 1.39% lower than the 13% cap set by the Energy Regulatory Commission (ERC). The reduction in system loss has an equivalent savings of 18,186,951.01 kwh or about Php124,471,493 for the ECs’ member-consumers.

 

Administrator Edita S. Bueno said, “Strategic interventions are being undertaken to address the reduction of system loss of the electric cooperatives in order for them to be operationally efficient and be of better service to their member-consumers. Lower system loss would also mean lower cost of electricity rates.”


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