Wednesday, October 04, 2006 Coop proponents to discuss power firm conversion
COOPERATIVE advocates in Baguio City and Benguet are being urged to come together and formulate a plan on how to deal with the issues surrounding the much-sought after conversion of the Benguet Electric Cooperative (Beneco).
Peter Dumaguing, a known supporter of Beneco's conversion into a stock cooperative registered under the Cooperative Development Authority (CDA), said: "There is an urgent need for the civil society, especially cooperatives in Baguio and Benguet, to hold a consultation with a planning workshop to better understand and appreciate the government's privatization program on energy and electricity."
The program was upheld by the passage of the Electric Power Industry Reform Act (Epira), which has given electric cooperatives in the country the option to convert from their current non-stock, non-profit status.
The workshop intends to gather coop advocates and convey the advantages and disadvantages of the options for conversion as provided for by law.
Dumaguing said it is important for the cooperative sector to prepare a "shared and common plan" in dealing with the issue on the Beneco conversion.
The activity is scheduled October 21 at the Jack's Restaurant along Km 4, La Trinidad.
Cooperative supporters are pushing for Beneco's conversion into a stock entity under the CDA so that member-consumers could enjoy the benefits provided by the Cooperative Code.
Registering Beneco with the CDA, they said, gives members the opportunity to really own the distribution utility.
Epira gives electric coops the choice to either convert into a stock coop, a stock corporation under the Securities and Exchange Commission (SEC), or remain as a non-stock, non-profit entity under the supervision of the National Electrification Administration (NEA). (JC)
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