Global Business Power Corporation (GBP) has remitted a total of P23.3 million to Toledo City in Cebu to further support and boost the city’s COVID-19 pandemic response.
The amount represents the Energy Regulations 1-94 (ER 1-94) fund share of Toledo from the electricity sales of GBP’s subsidiaries, Cebu Energy Development Corp. (CEDC) and Toledo Power Co. (TPC).
CEDC and TPC, with a combined generation capacity of 428 MW, facilitated the release of the fund share in order to assist the city in mitigating the effects and consequences of COVID-19.
The Department of Energy issued Department Circular (DC) No. 2020-04-00080 to allow the utilization of ER1-94 funds for COVID-19 response to help local government units in their fight against the pandemic, in accordance with the Bayanihan to Heal as One Act.
The funds provide LGUs more access to protective personal equipment (PPEs) for frontliners, essentials, and an improved capacity for mass testing.