BY DOMINIQUE GABRIEL G. BAÑAGA
BACOLOD City – Negros Occidental’s Gov. Eugenio Jose Lacson and Vice Gov. Jeffrey Ferrer support the proposed joint venture agreement (JVA) between Central Negros Electric Cooperative (CENECO) and Ignite Power, sister company of MORE Electric and Power Corporation (MORE Power).
The province’s top officials attended yesterday’s briefing at the Negros Residences in this city.
Also present were Provincial Board members Andrew Montelibano and Manuel Frederick Ko, as well as Mayor Marxlene Dela Cruz of Don Salvador Benedicto town.
The mayors of Murcia and the cities of Bago, Silay and Talisay which are all served by Ceneco only sent representatives, although they, too, support the proposed JVA.
According to Lacson, they now have a better understanding of MORE Power’s intention and he pointed out that with the latter’s performance in Iloilo, he is confident that Bacolodnons and Negrosanons would benefit, too, as MORE Power is knowledgeable on how to curb power interruptions and systems loss, which in turn would lower power rates.
“I believe in the management of MORE Power,” Lacson said.
Ferrer, meanwhile, said he also backs the JVA especially because MORE Power president and chief executive officer Roel Castro gave them assurance of stable power supply and lower power rates.
“What is more advantageous to the consumers is the most important. With that presentation, if we are going to compare services and what is happening now in CENECO, I will support the JVA,” Ferrer said.
At present, CENECO is losing P20 million a month and it also has debts amounting to P600 million, he pointed out.
Castro said they are not taking over CENECO as the JVA will be split 70-30 – MORE Power gets 70 percent of CENECO assets, while the remaining 30 percent will be retained by CENECO.
He also revealed that they are now reviewing the power contracts of CENECO to find ways on how to lower power rates once the JVA is completed.
As for CENECO employees, Castro said they will not be replaced by organic employees from Iloilo; they would rather hire Negrenses.
Some of the employees of CENECO, meanwhile, may be offered retirement, although they can also re-apply with the new company under the JVA.
Castro added that they are targeting to finish the referendum required by the National Electrification Administration by July of this year for the 220,000 CENECO consumers to decide on the JVA, and they will also ask the House of Representatives for the renewal of CENECO’s franchise under the JVA for 25 years./PN
