DoE to investigate forced outages that raised red alert over Luzon bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published January 19, 2021, 8:00 AM
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has cornered prepayment of P202.106 million from Sorsogon I Electric Cooperative (SORECO I), as part of the restructuring deal that the parties have entered into.
For the amount prepaid by the Sorsogon power utility, it was noted that the loan was accessed from the Development Bank of the Philippines (DBP), a government financing institution.
PSALM President Irene Joy Besido-Garcia
As noted by PSALM President Irene Joy Besido-Garcia, “since SORECO-I entered into restructuring agreement, it religiously paid its monthly amortizations for its obligations and consistently updated its monthly amortizations for deferred accounting adjustment (DAA) charges.”
Published December 27, 2020, 6:00 AM
Roughly 70-percent of the country’s electric cooperatives (ECs) scored ‘highest rating’ in a recent performance assessment carried out by the National Electrification Administration.
The agency announced that 85 out of the 121 ECs nationwide had been bestowed with “AAA” rating or “excellent” in their overall performance as assessed for year 2019 outcomes.
Of the 85 ECs that garnered highest rating, NEA noted that 30 power utilities were given scores of 100 points – based on the performance parameters employed in the assessment of their operations.
The electrification agency highlighted the ECs that sustained ‘excellent performance’ are those in: Region I (Ilocos Region); Region VI (Western Visayas); Region VIII (Eastern Visayas) and the CARAGA Region in Northeastern Mindanao.