• GILBERT P. BAYORAN
The National Electrification Administration has confirmed the final result of the plebiscite, as determined, proclaimed, and submitted by the Central Negros Electric Cooperative (CENECO), with 98,591 votes cast for the approval of its joint venture agreement with Primelectric Holdings Incorporated / Negros Electric Power Corporation.
In an issued memorandum, NEA administrator Antonio Mariano Almeda also ordered CENECO to submit the JVA to NEA for its consent, in accordance with PD 269. At the same time, Almeda added that CENECO should be prepared to answer any questions or queries of the NEA on the JVA.
The NEA, he added, expressly reserves its right to impose further conditions for its consent to the JVA, for the protection of CENECO consumer-members.
Almeda further said that CENECO should also be ready to present a plan on how it intends to secure the consent of any other lending source which holds a lien on any of CENECO’s properties, as required under PD 269.
After the NEA confirmation, Jonathan Cabrera, MORE Power media relations officer, disclosed that it will be followed by a transition and the application for a franchise in Congress.
Abang Lingkod party list Rep. Stephen Joseph Paduano earlier hinted his intention to sponsor the NEPC application for franchise in the House of Representatives.
If approved by Congress, CENECO acting general manager Arnel Lapore said NEPC can operate the distribution facility for 25 years.
MORE Power president Roel Castro earlier said that they are committed to invest P2 billion in the expansion and modernization of CENECO.
PHI and NEPC are affiliates of MORE Electric and Power Corp., a private distribution utility in Iloilo with proven financial and technical capabilities in the modernization and operation of distribution systems, according to the JVA.
The agreement adds that NEPC would pay for 70 percent of CENECO’s distribution assets, and the 30 percent balance would represent the capital contribution of CENECO to the new corporation.*
