Ceneco to re-compute P414-M over-under recoveries

The Central Negros Electric Cooperative (Ceneco) will re-compute its over/under recoveries of P414.6 million in the presence of the intervenors in Bacolod City.

Board president Roy Cordova, who led the conference with the intervenors Friday, January 5, said the net amount will be computed again so they can arrive with transparent figures.

“Hopefully, the P414.6 million will not be collected from the consumer-members or there is a possibility that this amount will be reduced or the Ceneco will refund the consumer-members,” he said.

“As a representative of consumers in the Ceneco board, this is our position that there is a need to recompute the figures,” Cordova added.

The Energy Regulatory Commission (ERC) had earlier ordered Ceneco to conduct another conference with the intervenors on their application for approval of over/under recoveries totaling P414.6 million.

In 2012, Ceneco had filed an application for approval of over/under recoveries in the implementation of automatic cost adjustments and true-up mechanisms and corresponding confirmation process under ERC Resolution No. 16, Series of 2009, as amended by Resolution No. 21, Series of 2010.

The over/under recoveries covered the period from 2004 to 2011.

Ceneco acquired a formula or template from ERC to determine the under recovery.

“We need to revisit the data to check the amount or figures,” Cordova said.

He said that the result of the recomputation will be submitted to the ERC.

Fr. Cris Gonzales, chairman of intervenor Social Action Center (SAC), said they are thankful to Ceneco for holding the conference to clarify the matter.

Gonzales said they support the move to recompute the P414.6 million, but there should be a representative from the ERC so that it will be explained to the member-consumers.

SAC legal counsel Vicente Petierre had earlier said that Ceneco should also explain how out of the P 414.6 million they came up with the P296-million under-recovery in 2011.
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