Electric cooperatives affected by Super Typhoon Yolanda may seek help from the Energy Regulatory Commission and National Electrification Administration Malacañang said yesterday.

Presidential Communications Operations Office Secretary Herminio Coloma Jr. said the ERC can authorize added capital expenditures for electric cooperatives.

They can also seek help from the NEA for lower interest rates and longer loan payment times. This should mean lower power rates for consumers, he said.

VRESCO sees one month
more for restoration

It will take about one month before Victorias-Manapla-Cadiz Rural Electric Service Cooperative Inc. could fully restore power in its service areas, officer-in-charge Dan Pondevilla, said yesterday.

Pondevilla said they have to partially energized the cities of Escalante and San Carlos and the town of Toboso.

They were not able to fully repair their damage lines yet although they have been augmented by technical teams from the Central Negros Electric Cooperative and the Negros Occidental Electric Cooperative.

Inflation forecast lowered
to 2.9%: monetary board

Private economists surveyed by the central bank in the third quarter this year project lower inflation rate for this year and next year due to well-behaved global commodity prices.

Result of the survey done last September showed an average inflation forecast for this year of 2.9 percent, down from the 3.1 percent in the survey down in the previous quarter, and 3.5 percent for next year, lower than the 3.6 percent previously.

The inflation forecast for this year is lower than the three to five percent target of the government for this and next year while the projection for 2014 is within target.