The National Electrification Administration (NEA) said its total collections hit nearly P6 billion in 2009.

In its report, NEA said they were able to attained 100 percent collection efficiency after exceeding its annual target of 96 percent from 2008.

NEA said a total of P4.393 billion were collected from Electric Cooperatives (ECs) and another P1.503 billion from the Power Sector Assets and Liabilities Management Corp. (PSALM) or a total of P5.879 billion.

“The very good collection performance ensures the availability of funds to service its obligations and to partially finance the Rural Electrification Program (REP),” it said.

Out of the 110 ECs which have loans with NEA, 55 have paid their amortizations in advance; 40 are current; and only 15 have arrears.

As a policy, ECs which are advanced in the payments get additional points in the yearly categorization and classification ratings being done by agency.

The categorization is being done to assess the operational performance of the ECs in order for them to be more efficient and effective distribution utilities and be responsive to the heightened demands of the electricity industry. - PNA

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