CamSur electric coop gets extension on debt deadline
MANILA, Philippines - Power was restored in Iriga City and other parts of Camarines Sur after its electric cooperative won an extension to next week to pay its supplier San Miguel Global Power.
Camarines Sur was supposed to be cut off from the power grid Wednesday after failing to meet a 12 noon deadline to settle its unpaid electricity bills. It did experience a power outage that lasted 15 minutes.
In a text message, Energy Secretary Jericho Petilla said an extension to the November 4 deadline was granted after negotiations between him, Camarines Sur mayors, the management of Camarines Sur Electric Cooperative 3 (Casureco 3) and San Miguel.
"I have negotiated with [San Miguel] for extension due to holidays. This means debt will be further incurred at a rate of P1.3 million per day until disconnection happens or debts are settled," he said.
Petilla, hower, says the extension will further bloat Casureco's P100 million debt by P1.3 million a day until it pays its debt.
Iriga Mayor Ronald Alfelor said Wednesay Iriga itself has not been remiss in paying its electric bills because these should be offset against the taxes owed by Casureco 3. - ANC