The national government, through PSALM, condoned the loans of electric cooperatives (ECs) used for electrification purposes amounting to PhP18.1 billion. This resulted in a reduction in ECs' rates in the range of PhP0.0578/KWh to PhP1.3507/ KWh. As of October 31, 2010, the government through PSALM had paid a total of PhP10.696 billion worth of financial obligations to LGUs and other government agencies.