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State-run National Electrification Administration asked electric cooperatives during a summit Friday to avail of Land Bank of the Philippines’ “Anti-Bill Shock” lending program and other services that can help them resolve financial challenges.
The tight power supply situation during the April supply month is expected to be reflected in the May billing of EC customers. LBP president and chief executive Lynette Ortiz welcomed the opportunity to speak and engage with the power co-ops, as the state-owned bank aims to reinforce its ongoing partnership with the Department of Energy and the agencies attached to it.“We’re going beyond lending facilities today.
The ‘Anti-Bill Shock’ lending program was introduced in April 2023 to assist power distribution utilities such as ECs to cushion the impact of high electricity bills due to increased consumption, especially during extremely hot months, on the MCOs.
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