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<div><span class="fr-img-caption fr-fic fr-dib" style="width:1309px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1714727786735171472664648320220912-electric-meter-divisoria-JC3050.jpg" class="fr-fic fr-dib" alt="Line men from an electrical contractor check electric meters at the Divisoria area in Manila on September 12, 2022. Jonathan Cellona, ABS-CBN News"/><span class="fr-inner" style="text-align:left">Line men from an electrical contractor check electric meters at the Divisoria area in Manila on September 12, 2022. <em>Jonathan Cellona, ABS-CBN News</em></span></span></span></div><p>MANILA -- After a warning that consumers&#x27; next electric bills will be much higher in the next due date, the Department of Energy (DOE) urged electric cooperatives to avail of the Land Bank of the Philippines&#x27; anti-bill shock lending program.</p><div><a href="https://news.abs-cbn.com/business/2024/5/2/electricity-bills-may-be-higher-in-next-due-date-erc-1407" id="isPasted" rel="noopener noreferrer" target="_blank">Electricity bills may be higher in next due date: ERC</a></div><p>This is so they can spread out the increases in their customers&#x27; electricity bills by up to nine months without passing the borrowing cost to consumers who cannot afford to pay at full cost, according to the DOE.</p><p>Under the program, power distributors can borrow from the LandBank up to 80 percent of the incremental increase on their power generation and transmission charges.</p><p>The amount loaned, however, must not also exceed the repayment capacity of the distribution utilities or be three times the average billings of its power suppliers.</p><p>Energy Regulatory Commission (ERC) Chairperson Atty. Monalisa Dimalanta said the anti-bill shock program is &quot;a win-win situation for our electric distribution utilities and consumers,&quot; as power use surges amid the dry season.</p><p>The LandBank said it has approved P450 million in loans to electric cooperatives as of March. The program was launched in April 2023 with an initial funding of P1.5 billion. </p><p>The ERC has said that its suspension of the Wholesale Electricity Spot Market (WESM) during Red Alerts will not include the series of price spikes in the Luzon and Visayas spot markets during the Red and Yellow Alerts in April.</p><p>The commission noted that this year is extraordinary, as extreme heat really pushed demand up, even surpassing the projected peak demand for the entire summer season.</p><p>The DOE also admitted last week that the power situation has reached crisis level. </p><div style="text-align:center"><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/R3G0ZvNtvGo?&amp;ab_channel=ANC24%2F7autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span>Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" id="isPasted" style="color:rgb(60, 151, 255)" target="_blank">iWantTFC.com</a>. Watch hundreds of Pinoy shows, movies, live sports and news.</div>

<p>The Department of Energy (DOE) is urging electricity distributors to avail of the Land Bank of the Philippines' anti-bill shock lending program.</p>

The Department of Energy (DOE) is urging electricity distributors to avail of the Land Bank of the Philippines' anti-bill shock lending program.

Spare power consumers from due date bill shock with Landbank loan, DOE tells electric coops

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Spare power consumers from due date bill shock with Landbank loan, DOE tells electric coops

ABS-CBN News

Published May 03, 2024 05:18 PM PHT

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Updated Jun 11, 2024 03:00 PM PHT

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