IRR for power co-op emergency fund outTHE National Electrification Administration (NEA) has released guidelines for the implementation of a law governing the use of emergency fund among electric cooperatives (ECs). Signed in June last year by President Duterte, Republic Act 11039, or the Electric Cooperatives Emergency and Resiliency Fund (ECERF) Act aims to help these power firms rehabilitate their infrastructure after a natural disaster. The P750-million fund will be taken initially from the National Disaster Risk Reduction and Management Fund (NDRRMF), while the National Electrification Administration (NEA) will manage and disburse it. Under Section 8 of the implementing rules and regulations (IRR) of RA 11039, the “Build Back Better” concept must be integrated in the recuperation, rehabilitation, and reconstruction phases after a disaster to bolster the resilience of the affected EC’s infrastructure. Once the NEA has used half of the power co-ops’ emergency fund, the NEA shall seek supplementary budget from the National Disaster Risk Reduction and Management Council (NDRRMC) Fund equivalent to at least the initial fund allocation, subject to the President’s approval.The agency is also authorized to subtract engineering and administrative overhead expenses which cover pre-construction activities; construction project management; testing and quality control; acquisition, rehabilitation and repair… Read full this story
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