ONE with Iloilo Province in its battle against COVID-19 pandemic, Global Business Power Corporation (GBP) facilitated the immediate remittance of P13.13 million to the provincial government through Gov. Arthur Defensor Jr. in order to further boost and support its response during this state of public health emergency.
The amount represents the Energy Regulations 1-94 (ER 1-94) fund share of Iloilo Province from the electricity sales of GBP’s subsidiaries, Panay Energy Development Corporation and Panay Power Corporation. The Department of Energy issued Department Circular (DC) No. 2020-04-00080 to allow utilization of ER1-94 funds for COVID-19 response to help local government units in their fight against the pandemic, in accordance with the Bayanihan to Heal as One Act. Projects include access to protective personal equipment (PPEs) for frontliners, essentials and mass testing.
The ER 1-94 program stipulates that host communities are entitled to financial benefits of one-centavo for every kilowatt-hour (P0.01/kwh) of the total electricity sales of generating companies to finance electrification, livelihood and development projects./PN
