THE National Electrification Administration (NEA) stated Friday that it lent a total of P1.403 billion to forty three electric powered cooperatives (ECs) from January to August this yr to finance their capital expenditure tasks and the rehabilitation of their strength distribution structures.
NEA said that of the overall quantity, P399 million become extended as calamity loans to 9 ECs within the wake of Typhoons Lando and Nona.
A calamity loan has a repayment time period of 10 years with a one-year grace period and an hobby charge of three.25 percentage according to annum, the corporation stated.
It said P344.Five million become borrowed by means of five ECs to finance their month-to-month shortfalls at the settlement in their strength accounts with the technology corporations (GenCos) and the National Grid Corporation of the Philippines (NGCP). The ECs should settle their arrearages with the era corporations on the way to avail of the prompt charge cut price.
aggregate demand 