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NEA opens loan window for RE projects of power coops

Media Release

30 September 2016

The National Electrification Administration (NEA) has opened a loan window for Renewable Energy (RE) projects of electric cooperatives (ECs) in its bid to encourage ECs to deploy clean technology innovations within their franchise areas.

 

The new loan window seeks to finance not only the equity requirement for the development and construction of RE projects, but also the cost of repairing or rehabilitating existing RE facilities of the power coops.


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NEA lends Php1.403 billion loans to power coops

Media Release

22 September 2016

The National Electrification Administration (NEA) has lent a total of Php1.403 billion loans to 43 electric cooperatives (ECs) from January to August 2016 to finance, among others, their capital expenditure projects and immediately rehabilitate their power distribution systems.

 

Of the said amount, Php399 million loan borrowed by nine (9) ECs primarily due to Typhoons Lando and Nona. Calamity loan has a term of 10 years of repayment period and one year grace period with interest rate of 3.25% per annum.


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NEA upbeat on Presidential veto of HB No. 6080

Media Release

29 July 2016

The National Electrification Administration (NEA) is upbeat over the decision of President Rodrigo R. Duterte to veto HB No. 6080 or An Act Modifying the Qualifications for and Creating a Screening Committee in the Election or Appointment of the Directors and Officers of Electric Cooperatives, Amending for the Purpose Sections 26-A and 26-B of Presidential Decree No. 269, as amended by Republic Act No. 10531 otherwise known as the National Electrification Administration Reform Act of 2013.

 

The proposed amendment likewise seeks to reconstitute the current membership of a Screening Committee that shall review and evaluate the official records and conduct final screening of the qualification requirements of EC district election candidates.


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Electric coops reduce system loss

Media Release

15 July 2016

The Electric Cooperatives (ECs) being supervised by the National Electrification Administration (NEA) posted an average record low of 11.12% in 2015, a reduction of 0.55% from the 11.67% in 2014 and 1.88% lower than the 13% cap set by the Energy Regulatory Commission (ERC). The reduction in system loss has an equivalent savings of 71,258,654.01 kWh or about Php488 million for ECs’ member-consumers.

 

NEA Officer-In-Charge Sonia B. San Diego said, “Strategic interventions are being carried out to reduce system loss of the electric cooperatives for them to be operationally efficient and be of better service to their member-consumers. Lower system loss could also mean lower cost of electricity rates.”


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NEA latest assessment shows improved performance of electric coops

Media Release

14 July 2016

The National Electrification Administration (NEA)’s Overall Performance Assessment for Calendar Year 2015 has shown relatively notable ratings of electric cooperatives (ECs) of which 70 were rated AAA from 56 in the past year.

 

The ECs’ Performance Assessment is a demonstration of NEA’s commitment to service excellence and public governance and it aims for breakthrough achievements in the rural electrification program.


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NEA remits dividends to National Government

Media Release

17 June 2016

The National Electrification Administration (NEA) has remitted a total of Php118.14 million to the national government as dividends due from NEA’s net earnings for Calendar Year 2015.

 

The state-run agency is among the first government-owned and controlled corporations (GOCCs) to pay the required dividends due the government during the GOCC Dividends Day held in Malacañang Palace on May 23, 2016.


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NEA reduces lending rates anew

Media Release

26 May 2016

The National Electrification Administration (NEA) has reduced interest rates on its various loan windows anew in an effort to provide the electric cooperatives (ECs) with more competitive lending rates in financing their rural electrification projects.

 

The NEA Board of Administrators (NEA-BOA) through its Board Credit and Risk Management Committee approved and issued BR No. 43, s. 2016 dated April 14, 2016 thus reducing the interest rates on term and short term loans offered to ECs.


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NEA gathered power coops for National Legal Conclave

Media Release

23 May 2016

The National Electrification Administration (NEA) has gathered 403 General Managers, Board Presidents, Legal Counsels, and Members of the Bids and Awards Committee of 93 electric cooperatives nationwide for the a National Legal Conclave at the Hotel Novotel in Araneta Center, Quezon City on May 19-20, 2016.

 

The conclave is aimed at updating the participants on EC operations under R.A. 10531 or the “National Electrification Administration Reform Act of 2013” and its Implementing Rules and Regulations (IRR); creating more awareness about the emerging trends and jurisprudence in today’s energy scenarios; and further equipping the participants so as to meet the expectations and needs of the EC stakeholders.


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NEA Lights and Sounds in 1st BENECO Choral Fest

Media Release

10 May 2016

NEA’s Lights and Sounds Chorale was the guest performer during the first Benguet Electric Cooperative, Inc. (BENECO) Choral Festival and Competition held at the General Pedro G. Dumol Hall of the new BENECO Building in South Drive, Baguio City on May 7, 2016.

 

BENECO General Manager Gerardo P. Verzosa said, “We have initiated and organized the festival to tap the choral talents of various groups within the franchise area of the electric cooperatives and private investor-owned utilities (PIOUS). We believe that with NEA’s support, this undertaking could be a point of convergence for all ECs and PIOUs, as well”.


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No major power hitch in coops’ coverage areas during election period

Media Release

14 May 2016

No major power hitch was reported within the electric cooperatives’ coverage areas during the election period from May 2-14, 2016. This covers the National and Local Elections on May 9, 2016 and the Special Elections on May 14, 2016 in selected areas in Luzon, Visayas and Mindanao.

 

The National Electrification Administration (NEA) has closely monitored the power situation nationwide during the period through the Power Task Force Election 2016. Reports from the coops show the occurrence of few outages caused by busted distribution transformer fuses, primary and secondary line faults, and defective fuse links. Incidence of these power interruptions was minimal and isolated and services have been readily restored.


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