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Gov't orders power utilities to avail of Anti-Bill Shock loan

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Power Rates,Electricity Rates,Landbank Of The Philippines

The DOE and ERC ordered power distribution utilities to avail of a state-run bank's anti-bill shock lending program, the Presidential Communications Office said Friday.

The Department of Energy and Energy Regulatory Commission ordered power distribution utilities to avail of a state-run bank's Anti-Bill Shock lending program to make electricity rates affordable, the Presidential Communications Office said Friday. President Ferdinand Marcos Jr. had instructed the DOE and ERC to issue the order. The Anti-Bill Shock lending program was being implemented by the Landbank of the Philippines .

Under the LBP anti-bill shock lending scheme, Landbank will provide financing to distribution utilities at concessional rates, enabling them to spread out the incremental increases in their customers’ billings by up to nine months without passing the borrowing cost to consumers who cannot afford to pay at full cost.

Power Rates Electricity Rates Landbank Of The Philippines Department Of Energy Energy Regulatory Commission

 

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