Maniolas

MANILA, Philippines – Energy Secretary Carlos Jericho Petilla has estimated that around P2 billion would be spent for the restoration of toppled power transmission and distribution lines in the Yolanda-stricken areas. “(We have) estimated P1.1 billion for transmission alone. (Our) estimate for distribution is about P800 million, or roughly a total of P2 billion. But we have not yet completed the computation,” he said. Petilla said they are also exploring ways on how to raise the funds to finance the restoration efforts. He said they are trying to find out if the National Grid Corp. of the Philippines (NGCP), the private concessionaire managing the country’s power transmission highways, can shoulder the rebuilding of the transmission lines. “I think NGCP’s insurance is 70:30 which means 70 percent of the cost it needs to recoup will be shouldered by them and the 30 percent would have to be passed on. But my goal is zero passed on,” the energy chief said, noting that NGCP may not need to seek approval from ERC for costs related to force majeure. Petilla said he would also seek leagl opinion on tapping the Malampaya fund for the rehab efforts. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 According to the energy chief, state-run National Electrification Administration (NEA) has already set aside some P300 million to electric cooperatives affected by the super typhoon. “NEA has already shelled out P150 million to an electric cooperative in Leyte and there’s another P150 million released somewhere in Iloilo. Yes, Read More …