The National Electrification Administration (NEA) convened last week to assess the joint venture agreement (JVA) of Primelectric/Negros Electric and Power Corp. (NEPC) with the Central Negros Electric Cooperative (Ceneco) aimed at improving electricity services in Negros.
NEA administrator Antonio Almeda said during the hearing that along with scrutinizing Ceneco’s donated capital and viability, the board would also address the concerns of oppositors such as the possibility of increased power rates.
Almeda said issues will be resolved “with all the required legal objectivity.”
Roel Castro, Primelectric/NEPC president, assured during the hearing the JVA will help in reducing systems losses and improved reliability “but will not lead to any immediate increase in the distribution system and metering rates for the consumers once NEPC operates.”
Castro said the partnership will not just streamline the internal and external operations of concerned parties but will also rehabilitate and modernize the distribution system.
Castro said NEPC will invest P2.1 billion to put up modern systems and equipment for a better consumer experience.
Primelectric/NEPC added the JVA is also committed to achieve 100 percent total electrification target in the franchise area by 2028.
Primelectric/NEPC is a sister company of MORE Power, which on the other hand serves as the distribution utility in Iloilo. -Jed Macapagal
