President Marcos Jr. has approved the 25-year franchise of the Romblon Electric Cooperative, Inc. (ROMELCO) which would enable them to supply electricity to the municipalities of Banton, Corcuera, and Concepcion in Romblon.
The President, on August 29, signed Republic Act 12020 granting ROMELCO a 25-year franchise “to construct, install, establish, operate, own, manage and maintain distribution systems for the conveyance of electric power to end-users in the municipalities.”
The law provides ROMELCO should supply electricity to consumers “in the least costly manner” and charge “reasonable and just power rates for its services to all types of consumers within its franchised areas.”
The Energy Regulatory Commission (ERC) shall regulate and approve the retail rates and fees to be charged by ROMELCO.
ROMELCO is also expected to provide employment opportunities for the locals. It is equired to provide on-the-job training in its franchise operation.
Under the law, ROMELCO also has the power to modify, improve, and change the facilities and systems “in such manner and to such extent as the progress in science and technology and improvements or innovations in the electric power services may render reasonable and proper” and upon approval by energy bodies such as the ERC, Department of Energy (DOE), and National Electrification Administration (NEA), which have jurisdiction over its operations.
It shall also establish a consumer desk to promote consumer interests and handle consumer complaints.
ROMELCO shall also submit an annual report to Congress on its compliance with the terms and conditions of the franchise and on its operations on or before April 30. Failure to do so shall make the cooperative liable to a fine of P500 per working day to be collected by the ERC.
President Marcos Jr., on August 27, also approved the creation and designation of a building on a parcel of land in Mandurriao, Iloilo City as a Special Economic Zone (SEZ) and expanding the Lima Technology Center-Special Economic Zone in Malvar, Batangas.
Malacanang released yesterday copies of Proclamation No. 668 and 670 that designated the two areas as SEZ following the recommendations of the Board of Directors of the Philippine Economic Zone Authority (PEZA). PEZA promotes the establishment of economic zones in the Philippines for foreign investments.
Data from PEZA showed that as of April 2023, there are 419 economic zones in the country, and 297 of which are information technology parks or centers.
