• CHRYSEE G. SAMILLANO
Power Watch Negros will be studying the ramification of the joint venture agreement (JVA) between Central Negros Electric Cooperative and More Electric and Power Corporation.
Wennie Sancho, Power Watch secretary general, yesterday said they want to see to it that the interest of the consumers is perfected and their advancement given priority in the JVA.
But since they have not yet read the terms and conditions of the JVA, they will have to wait and see if it will be good. However, this doesn’t mean that they are approving it, Sancho said.
They will observe and see if it has provisions to reform Ceneco to enable the power utility firm to provide efficient services. There is also a need to reform its management and for the members of the Board of Directors (BOD) to make decisions in favor of the welfare of the consumers and not their own interests, he said.
Sancho said it is during the Annual General Membership Assembly (AGMA) in May where they will scrutinize the contents of the JVA, and it is also in the AGMA where they will decide whether or not to support it.
But for the time being, it is logical for Ceneco to seek help because of the problems it is facing like its huge financial problems, as well as organizational and technical problems, he said.
Its huge systems loss amounting to P170 million is an indication of mismanagement, he added.
Sancho said the JVA is only one of the options provided in the guidelines of the National Electrification Administration (NEA), classified under the framework of private sector participation (PSP). But NEA has the final say as it must review all contracts to be executed.
If the letter of intent sent by Ceneco to NEA will be acted upon with favor, it will change the course of history of the power industry not only in Negros but in Western Visayas, he said.
If the principles they had cited will be considered in the JVA, there is no reason why they should not support it. But for now, Power Watch will be watching, Sancho added.*
