Amid the uproar because of the very high electricity rates in the Philippines, Negros Electric and Power Corporation (NEPC) President Roel Castro said that they are preparing for the CENECO takeover in the next few months. The Senate’s final approval of the bill granting NEPC’s franchise brings them closer to the execution of the joint venture agreement (JVA) that will allow Negros Power to take over the power distribution services and cater to the needs of consumers in Central Negros.
When is the CENECO Takeover?
Despite the quickening of the pace, Mr. Castro said that he still does not know the exact date when Negros Power can start operations since President Ferdinand Marcos still needs to sign the final documents.
The fastest that they can begin operations is a month and a half to three months, but there are still many things that are not within their control, he said during a press conference at the Park Inn by Radisson Bacolod.
No Quick Fix to Solve the High Power Rates
In response to the consumers’ general problem regarding the sudden rise in electricity costs, Castro said there would be no magic solution to fix the high power rates and the problems within the CENECO power distribution system.
However, NEPC is ready to infuse more than P2 billion towards addressing those concerns and improving services in the next 5 years. “We do not want to raise false expectations that there will be a quick fix,” Castro said.
Meanwhile, CENECO acting general manager Arnel Lapore and Castro both attributed the high electricity rates being felt nationwide to the increase in demand for power amid the extreme heat that hit the country. One thing is for sure, CENECO’s high power rates have nothing to do with the JVA, Castro stressed.
Lapore is hopeful that CENECO power rates can go down next month if the Energy Regulation Commission (ERC) releases provisional authority for the Energy Development Corp. (EDC) to release power.
Negros Power – Bacolod Office
NEPC is 90 percent ready with its temporary office on the second floor of Robinsons East, Castro said. This is located along Burgos Extension, Bacolod City.
He said out of the 400 plus CENECO employees, over 230 have already expressed their intention to join the new company.
So far, Negros Power has already spent more than P100 million for new meters, posts, and wires in preparation for the execution of the JVA from day one, Castro said.