The National Power Corporation (Napocor) needs P10 billion in loans to ensure small power plants would have enough fuel to sustain electricity supply in off-grid areas this year.
According to Maki Pulido’s report Tuesday on “24 Oras,” the loan will be paid through the additional charges to be imposed under the Energy Regulatory Commission ’s universal charge for missionary electrification .
“Band aid solution ‘to, ang long term solution sana either makabit mga isla sa main grid or magkaroon ng sarili maraming sariling supply,” said ERC chairperson Monalisa Dimalanta. “We need to infuse more capital or borrow money from the bank so we can basically pay our fuel supplier..basically supplier because that’s 80 percent of our cost,” said Calvin Genolativa of Occidental Mindoro Consolidated Power Corporation.
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