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Wednesday, May 03, 2006
No power rate hike: Noreco
By Adrian Sedillo
NEGROS Oriental 2 Electric Cooperative (Noreco 2) has no plan to increase its power rate in the face of the latest round of oil price increases and its unpaid loans.
Ephraim Taclob, Noreco general manager, said the board of directors had not discussed the issue in their latest meeting.
Taclob said the board's priority was to improve the cooperative's power distribution system and services so they would have a reason to ask for an increase.
He said the cooperative had been set to increase its rate with or without the P27 million interest-free loan offer of the Provincial Government because more than 80 percent of its earnings go to the National Power Corporation and only a small percent is retained by the power firm.
On the other hand, Taclob said, asking for a power rate hike would entail complicated processes and the cooperative had to convince the Energy Regulatory Commission why it wanted the increase.
(April 30, 2006 issue)
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