MORE electrical cooperatives (ECs) have obtained calamity loans from the Nationwide Electrification Administration (NEA) for the rehabilitation of energy distribution amenities as a result of Hurricane “Tisoy” (worldwide identify: “Kammuri”) in December final yr.
The most recent information from the NEA Accounts Administration and Assure Division confirmed that the electrification company launched P51.6 million in calamity loans to 6 energy co-ops working within the Mimaropa, Bicol and Jap Visayas areas in February.
These energy distribution utilities have been Lubang Electrical Cooperative Inc. (P450,443), Tablas Island Electrical Cooperative Inc. (P426,936), Ticao Island Electrical Cooperative Inc. (P5.98M), Sorsogon 1 Electrical Cooperative Inc. (P18.35M), Sorsogon 2 Electrical Cooperative (P5.88M) and Northern Samar Electrical Cooperative Inc. (P20.51M).
In Jan. 2020, the NEA additionally prolonged P31.25-million price of monetary help to 4 ECs within the Bicol and Mimaropa areas for the rehabilitation of broken distribution programs because of the hurricane. These have been Oriental Mindoro Electrical Cooperative Inc., Masbate Electrical Cooperative Inc., Camarines Sur three Electrical Cooperative Inc. and Marinduque Electrical Cooperative Inc.
The calamity mortgage being provided by the NEA has a 10-year compensation time period or, primarily based on the EC’s remaining franchise life, with a most grace interval of 1 yr and an rate of interest of three.25 p.c each year.
Hurricane “Tisoy” made landfall in Gubat, Sorsogon on Dec. 2, 2019. It triggered P911.67-million price of injury to 27 ECs in Luzon and Visayas, in line with the NEA Catastrophe Danger Discount and Administration Division.