Benise Balaoing

The inauguration of the National Grid Corporation of the Philippines Mariveles-Hermosa-San Jose 500kV transmission line in Barangay Balsik, Hermosa, Bataan on July 12, 2024. The 8,000 MegaWatt (MW)-line is more than capable of transmitting the 2,086MW power from new plants in the area.
Niño Jesus Orbeta, PPA pool

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A new power plant in Bataan

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<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/173329390652720240713-bbm-ngcp-bataan-PPA-3.jpg" style="width:950px" class="fr-fic fr-dib" alt="The National Grid Corporation of the Philippines&#x27; Mariveles-Hermosa-San Jose 500kV transmission line in Barangay Balsik, Hermosa, Bataan. Niño Jesus Orbeta, PPA pool"/><span class="fr-inner" spellcheck="false" style="text-align:left">The National Grid Corporation of the Philippines&#x27; Mariveles-Hermosa-San Jose 500kV transmission line in Barangay Balsik, Hermosa, Bataan. <em>Niño Jesus Orbeta, PPA pool</em></span></span></span></div><div><br/></div><div><br/></div><p>MANILA -- Electric cooperatives that comply with the National Electrification Administration&#x27;s (NEA) financial and operational standards will be exempted from taxes imposed by local government units, the Department of Energy (DOE) said Wednesday.</p><p>In a statement, the DOE said its new Joint Memorandum Circular with the Department of Finance states that electric cooperatives can get preferential rights and must secure an annual Certificate of Compliance from the NEA.</p><p>This certification shows a cooperative&#x27;s adherence to financial and operational standards.</p><p>In order to get a certificate, an electric cooperative must maintain high collection efficiency, achieve positive net worth, meet system reliability and system loss standards, and implement electrification projects to attain 100 percent customer connection.</p><div><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/ollCEH__Gqs?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>It must also conduct annual general membership assemblies and district elections as scheduled, and submit complete and timely reportorial requirements. </p><p>Lotilla said this exemption means local electric cooperatives can now allot more money to increase electrification and improve their services.</p><p>“By reducing these costs, we empower them to focus on expanding access to electricity, especially in unserved and underserved areas, ensuring no Filipino household is left behind,” he said.</p><div><a href="https://www.abs-cbn.com/business/2024/9/24/electric-coops-urge-erc-oic-to-act-on-pending-deals-to-avert-hikes-1724" rel="noopener noreferrer" target="_blank">Electric coops urge incoming ERC OIC to act on pending deals to avert hikes</a></div>

<p>Electric cooperatives that comply with the National Electrification Administration's (NEA) financial and operational standards will be exempted from taxes imposed by local government units.</p>

Electric cooperatives that comply with the National Electrification Administration's (NEA) financial and operational standards will be exempted from taxes imposed by local government units.

Electric cooperatives to get exemption from local taxes

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Electric cooperatives to get exemption from local taxes

Benise Balaoing,

ABS-CBN News

Published Dec 04, 2024 03:15 PM PHT

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ANC promo

tax exemption

electric cooperatives

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National Electrificication Administration

electrification

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