The Department of Finance (DOF) told state-run Power Sector Assets and Liabilities Management Corp. (PSALM) to disconnect Lanao del Sur Electric Cooperative, Inc. (Lasureco) from the grid and curtail Maguindanao Electric Cooperative, Inc.’s (Magelco’s) supply of power after failing to settle their outstanding debts of over P16 billion in total.
Both electric cooperatives (ECs) were also unable to pay their current power bills on time.
