THE Bacolod City Council has approved a resolution urging the Board of Directors of Central Negros Electric Cooperative (Ceneco) to issue a resolution calling for a general assembly of all its members-owners under its franchise areas.
Councilor Wilson Gamboa Jr., who authored the resolution, said Ceneco, an electric cooperative in the Philippines, was consolidated into the Negros Power on July 31, 2024, after Prime Electric entered into a Joint Venture Agreement (JVA) with it, resulting in the former taking ownership of all Ceneco’s power assets.
He said that since households in the franchise area remained to be members-owners of Ceneco, they must be fully informed of the cooperative’s current financial standing, remaining assets, and continuing obligations after its consolidation with Negros Electric and Power Corporation (Negros Power).
"From the onset of Ceneco’s JVA with Negros Power in 2022, however, no general assembly of Ceneco member-owners has been convened to formally report on the cooperative’s current financial standing, remaining assets and continuing obligation," he added.
Gamboa, chairperson of the City Council committee on human rights, noted that, as a cooperative, Ceneco has a continuing obligation to its member-owners, in terms of reporting on its remaining funds and obligations; accounting for assets retained or transferred under the JVA, clarifying the status of members’ equity and capital contributions, and explaining how consumer interests are protected.
"Transparency is needed to protect consumers especially amid ongoing public concerns over electricity rates, service reliability, and long-term power infrastructure planning," Gamboa said.
He said Ceneco was formed as a member-owned cooperative; therefore, its consumers are entitled to clarity on what happened to its assets, liabilities, and finances after the JVA with Negros Power.
Gamboa said a general assembly would strengthen public trust and ensure that all actions taken under the JVA are aligned with the principles of cooperative governance and consumer protection following major structural changes in the power distribution utility. (MAP)