GBP turns over more than P20M ER 1-94 fund to support Cebu host barangay’s pandemic response
Global Business Power Corporation (GBP), through its subsidiaries Cebu Energy Development Corporation (CEDC) and Toledo Power Co. (TPC), has turned over a total of P20.6 million to Brgy. Daanlungsod, Toledo City, Cebu in aid of its pandemic response and initiatives. The remitted amount represents the Energy Regulations 1-94 (ER 1-94) fund share of the Company’s host barangay from the electricity sales of its Cebu subsidiaries.
In accordance with the Department of Energy’s Department Circular No. 2020-04-0008, ER 1-94 funds can be utilized by host local government units to mitigate the effects of the COVID-19 health emergency, anchored on the Bayanihan to Heal as One Act. The said fund will then enable the barangay of Daanlungsod to mobilize their plan of action in battling the ongoing pandemic, such as the purchase of a multi-purpose van for the LGU’s disaster risk reduction management programs.
“We are one with our kababayans in overcoming the challenges brought by the coronavirus. We will continue to support the community in their endeavors for our recovery and healing as we gear up for the ‘new normal’ “, said Engr. Leah G. Diaz, FVP for GBP Cebu Operations.
The ER 1-94 fund is one of the benefits received by the host LGUs under the Electric Power Industry Reform Act (EPIRA) of 2001. It entitles the host communities to financial benefits of one-centavo for every kilowatt-hour (P0.01/kWh) of the total electricity sales of generating companies to subsidize electrification, livelihood and development projects.