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Friday, November 04, 2005
Transco to scrap discounts to power coops
By Richel V. Umel
Lanao correspondent
* Coops currently paying P50 million in rates a month
* Amount to go to line expansion
ILIGAN CITY -- Effective December 2005, the Power Transmission Corporation and Generation Corp. will remove the Prompt Payment Discount to 119 Electric Cooperatives in the entire country.
Engineer Resnol C. Torres, general manager of Lanao del Norte Electric Cooperative (Laneco), said each ECs are currently paying charges in an average of P50 million per monthly billing or an estimated P5.950 billion worth of revenue to be fully collected by January 2006.
The amount generated from PPD are supposed to be utilized for putting line expansion project to far flung barangays to serve the potential electric consumers in the hinterlands, GM Torres told Sun.Star Cagayan de Oro.
In an official notice signed by Transco President Dr. Allan T. Ortiz, Transco is compelled to implement the removal of PPD from its billing and collection policy.
This action, in effect, adheres to the provision of the Energy Regulatory Commission-approved Transmission Wheeling Rates Guidelines and the Open Access Transmission Service rules terms and conditions.
The ECs are mandated to pay their monthly billing on-line.
(November 4, 2005 issue)
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