Why Vote YES for  JVA | CENECO Joint Venture Agreement with Primelectric/Negros Power

The Urgent Situation of CENECO

CENECO, our local electric cooperative, is facing serious challenges that need our attention. It has accumulated a debt of more than 600 million pesos from various sources, including the National Electrification Administration and banks. Since 2011, CENECO has not invested in new equipment, upgraded facilities, or modernized its infrastructure. As a result, the equipment used to distribute electricity is outdated, with substations and transformers being overloaded. Many wooden utility poles are broken, leaning, and needing repair. This situation has led to tangled power lines and inaccurate meter readings. Additionally, CENECO is losing around 20 million pesos monthly due to high system losses, reaching 11%. The current franchise of CENECO is set to expire in 2030.

The Role of Primelectric/Negros Power

To address these pressing issues and secure a better future for CENECO and its consumers, the proposed Joint Venture Agreement (JVA) with Primelectric/Negros Power comes into play. If approved, Primelectric will provide a substantial amount of 1.7 billion pesos in cash to help CENECO settle its outstanding debts. This financial support will be crucial in stabilizing CENECO’s financial situation.

Improvements to Expect

The benefits of the JVA are not limited to financial relief. With Primelectric’s involvement, there are plans for substantial improvements. Primelectric will invest in repairing, replacing, upgrading, and modernizing facilities related to electricity distribution. A comprehensive 5-year development plan includes expanding the capacity of substations and transformers. Wooden utility poles will be replaced with sturdier concrete ones, and primary lines will be reinforced. The plan also involves upgrading meters to digital ones, ensuring their accuracy, and improving response times to incidents, thereby minimizing the occurrence of unscheduled brownouts.

Consumer-Friendly Approach

One significant advantage of the JVA is that the system loss passed on to consumers will be controlled and limited to 5.5%, as regulated by the Energy Regulatory Commission. This means that the additional costs consumers bear will be kept at a reasonable level.

Franchise and Consumer Benefits

Furthermore, the franchise application process will be transferred from CENECO to Negros Power. This proposed arrangement allocates a 30% share for CENECO. This partnership is expected to enhance the overall quality of our electricity service and contribute to reducing the cost of electricity.

Participate in the Plebiscite

Your voice and vote matter in this crucial decision. The referendum is scheduled for August 19, 20, 26, 27, and September 2, 3, 2023. Voting locations will be set up in schools designated by CENECO. Your participation is essential for the future of our electricity service.

Proxy Voting Option

If you support the CENECO JVA but cannot personally vote on the plebiscite days, you can appoint a proxy to vote on your behalf. Proxy forms are available at the CENECO JVA booths at various malls and government centers in Bacolod City.

• SM City Mall
• Ayala Mall
• Robinsons Mall
• City Mall
• Gaisano Mall
• 888 Mall
• Bacolod Old City Hall
• Bacolod New Government Center

Remember, by voting YES for the CENECO JVA, you are helping to shape a brighter and more efficient future for our local electricity service.