LAOAG CITY, May 14 -- Ilocos Norte Electric Cooperative (INEC) has borrowed PHP100 million from the Land Bank of the Philippines (Landbank) to help cushion operational cost while allowing consumers to pay on installment basis.

In a briefing on Tuesday, INEC acting general manager Cipriano Martinez said Landbank's anti-bill shock short-term loan program extends working capital to distribution utilities (DUs) and electric cooperatives (ECs) while allowing their electricity customers to pay bills in installments during periods of higher power consumption and rates.

He said power consumption in the province increased by over 60 megawatts or 20 percent from the average daily consumption because of the El Nino-induced heat.

Under the program...