NEA eyes financial aid for Lanao del Sur electric cooperative

By PMT Desk

ILIGAN CITY — The National Electrification Administration (NEA) is looking at extending financial assistance to the ailing Lanao del Sur Electric Cooperative (LASURECO) after the Power Sector Assets and Liabilities Management Corp. (PSALM) demanded the cooperative to disconnect from the Agus hydro facility for its failure to settle nearly P13 billion obligations to PSALM.

“I will bring the matter to the NEA Board of Administrators (BOA),” NEA administrator Emmanuel P. Juaneza said.

Upon the request of PSALM, the National Grid Corporation of the Philippines (NGCP), operator of the country’s power transmission network, had earlier set the cut-off of Lasureco from the Agus 1 Hydroelectric Power Plant on June 8.

Lasureco gets its entire power supply needs from the Agus 1 plant, which PSALM owns.

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Lasureco, however, was able to secure a 20-day reprieve from a local court from paying the P12.9 billion that the PSALM demanded or else its energy supply will be cut off.

PSALM said the continuous supply of electricity to LASURECO without any indication on who will pay PSALM for such electricity is detrimental and extremely unfair to PSALM, to the government, and to all other electricity consumers who are dutifully paying for their electricity. (With AGENCY)

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