TO ENSURE and protect ownership of member-consumers against possible takeover of Benguet Electric Cooperative (Beneco) from economic speculators, the local power distributor continues to undergo the process of becoming a regular stock cooperative.
In the weekly Kapihan sa Baguio, Beneco general manager Gerardo Versoza asserted the only way to prevent the electric cooperative to be taken over by private power developers is to become a stock cooperative.
“We are now preparing the requirements for us to become a regular stock cooperative after the general membership assembly. We are now preparing documents which would show our proof of ownership of the cooperative through a Certificate of Ownership including the process of providing dividends to member-consumers,” Versoza said.
Beneco has turned into one of the country’s top performing electric cooperative under Verzosa’s leadership making it an A-1 stature reflected in the cooperative’s eight national awards during the Lumen Awards at the national conference of electric cooperative in April this year.
The preparations for the transition of becoming a stock cooperative came mainly from an intention by a solar power based private company that have shown possible prospects of taking over the cooperative, aside from the renewal of the cooperatives franchise which is set to end in 2025.
“A coop can only be successful if the member-consumer intervenes in its operations and management. The consumer at all times should guard the cooperative, the consumer should demand from the cooperative whatever it wants to demand, the members and employees should not allow anyone from taking advantage of the resources of Beneco,” Versoza stated.
The power distributor garnered the “Single Digit System Loss for the Year”, the lowest power rate (on grid), best in collection performance, model headquarters facilities, Triple A category award, certificates of recognition for participation in Task Force Kapatid for victims of Typhoon Lawin and Typhoon Nina, including an exemplary management award for the general manager.
Beneco has also brought down its average system loss to 9.08 percent which resulted in savings of millions of pesos, aside from pulling out a 100 percent collection efficiency and the reduction of power rate of P7.1292 per kilowatt hour.