• THERESA MAE DULMAN
The Bacolod Sangguniang Panlungsod (SP) thrown its support to pleas to formally urge the Board of Directors of the Central Negros Electric Cooperative (CENECO) to convene a General Assembly for all its member-owners.
The resolution, authored by Councilor Wilson Gamboa Jr., said that CENECO maintains a continuing legal and moral obligation to its members.
On July 31, 2024, CENECO entered into Joint Venture Agreement (JVA) with Prime Electric, resulting in the creation of Negros Power, which led to the transfer of the cooperative’s power assets.
Councilor Gamboa said that although the operational landscape has changed, households within the franchise area remain the legitimate member-owners of CENECO.
He noted with concern that since the inception of the JVA, no formal assembly has been called to update the members on the cooperative’s financial health or the status of their equity.
This includes providing a transparent accounting of remaining funds, identifying which assets were retained versus those transferred, and clarifying how capital contributions are being handled.
Gamboa added that such transparency is vital to protect consumers who are currently grappling with concerns over electricity rates and service reliability.
The councilor said that because CENECO was founded as a member-owned entity, the public is entitled to a clear explanation of all liabilities and financial shifts that occurred during the structural transition to Negros Power.*
