THE Benguet Electric Cooperative (Beneco) reiterated that there’s nothing wrong with their recent purchase of a 1.2-hectare land along South Drive.

The board also added there was nothing stolen or was any irregularity as can be gleaned from Councilor fred Bagbagen’s privilege speech on March 8. The deal was brokered by licensed real estate brokers or real estate appraisers.

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In a letter addressed to Bagbagen and other members of the City Council, the members of the Beneco board said their acquisition of the property was cheaper than other offers made to Beneco because of the lesser cost of the property against the prevailing market value of real properties in the area.

Beneco, after the release of property from the owners of the land and the transfer of title, only handed over the payment through a bank loan.

The board also said the land will be used as the general headquarters of the cooperative and will house all Beneco offices and a warehouse for tools and materials.

The electric cooperative will also utilize the land for parking of its vehicles. The multipurpose halls and recreational facilities that will be opened to the public will also be constructed.

Beneco board also said this will not affect the consumer-members of Beneco as the money spent for the purchase of the land will not appear on the consumer’s monthly bill.

Beneco board representatives were also requested to appear before the City Council session Tuesday to air their side on Bagbagen’s allegations and to answer the City Council’s other queries about the electric cooperative. (JM Agreda)