Latest Stories

NEA pays gov’t P136M dividend


MANILA, Philippines—state-run National Electrification Administration has remitted P136 million in dividends to the government, representing its share in the agency’s earnings in 2012.

“NEA’s contribution to the national coffers is in line with its efforts to ensure good governance. We strive for excellence by dutifully paying our obligations,” said NEA Administrator Edita S. Bueno.

According to NEA, it was among the first government-owned and -controlled corporations (GOCCs) to remit dividends to the government this year.

It explained that the P136 million that was turned over to the Bureau of Treasury (BTr) on Jan. 29 was so far the biggest dividend paid by NEA in its history.

Based on initial reports, the agency’s net income before income tax last year stood at P452 million.

It was only after a restructuring in 2003 that NEA began posting a positive net margin and it had continued to do so over the past eight years.

The contributing factors to NEA’s positive financial position included its enhanced lending program and prudent corporate practices. Since its financial turnaround in 2004, NEA has adopted various measures and initiatives to make its operation more viable.

At present, the Department of Energy has been urgently pushing for the passage of a bill that will amend the charter of NEA.

Pending House Bill 5578 is aimed at enabling the NEA to carry out reforms that will capacitate and improve the creditworthiness of electric cooperatives. By doing so, electric coops will be able to serve more efficiently the electricity needs of the customers within its franchise area, particularly those in the provinces and off-grid areas.

It should be noted that many of the power distributors in the Philippines are electric cooperatives. Unfortunately, some of them have been underperforming or facing serious debt problems due to mismanagement and politics. The total debts of electric cooperatives have so far hit P18 billion.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: dividends , Earnings , Energy , Government , Government agencies and offices , government corporations , National Electrification Administration (NEA) , Philippines

  • bogli_anakdami

    yehey…. marami na namang pang bonus sa xmas, pabaon, at pang-shopping sa abroad ang mga hinayupak traposkals…

    allah eh dapat ibaba ang halaga ng koryente… P12K na naman itong aking resibo na babayan eh…

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • 9 confirmed dead after ferry sinks off South Korean coast
  • Aquino to public: Learn to sacrifice
  • 20 killed as Islamic extremists rampage in Nigeria
  • Drug firm Novartis to help Leyte firefighter
  • Fears grow for hundreds missing in South Korea ferry capsize
  • Sports

  • Walker leads Bobcats over Bulls in OT, 91-86
  • Man City slips further out of title contention
  • Federer would skip tennis to be with wife, newborn
  • Manny Pacquiao in PBA? If so, he’ll wear No. 17
  • PSC sets Blu Girls US training
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • ‘Community’ star happy with return of show’s creator
  • Business

  • Fired Yahoo exec gets $58M for 15 months of work
  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • PH seen to sustain rise in FDIs
  • Technology

  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Marketplace