July 4, 2018
NEA Statement on the Enactment of Republic Act 11039 (EC Resiliency Fund Law)
The NEA welcomes and expresses deep appreciation for the President’s signing into law of Republic Act 11039 or the Electricity Cooperative (EC) Resiliency Fund Law.
We believe this new measure reflects the Administration’s commitment to support ECs and member-consumer-owners, as it assures the immediate rehabilitation of power facilities damaged by natural calamities and relieves ECs and MCOs of the financial burden stemming from the cost of reconstruction.
We likewise extend our gratitude to Congress, particularly the Energy committees of both the Philippine Senate and the House of Representatives, as the EC Resiliency Fund Law addresses the needs of ECs that require subsidies when disaster strikes.
The NEA looks forward to working with Congress and the Department of Budget and Management to ensure that the budgetary requirements of RA 11039 are fully integrated in the 2019 NEA budget. ###
