Say YES to the JVA! |Joint Venture Agreement

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

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Unite for a Brighter Energy Future | Say Yes to the JVA! | Joint Venture Agreement Between Primelectric and CENECO

Are you ready to shape a brighter future for your community? It’s time to stand and say YES to the Joint Venture Agreement (JVA) between Primelectric/NEPC and CENECO. This partnership is vital to transforming the energy landscape, enhancing electricity services, and lowering prices. By supporting this groundbreaking collaboration, you’re not just advocating for progress; you’re actively participating in building a sustainable and prosperous future for all.

The Power of Primelectric/NEPC (Negros Power)

Let’s dive into the remarkable achievements of Primelectric/NEPC, the sister company of MORE Electric Power Corporation, operating successfully as a distribution utility in Iloilo City. With a team of industry experts and under the capable leadership of Enrique Razon, Primelectric/NEPC has gained a reputation for prioritizing consumer welfare. Their track record speaks volumes, as they have revolutionized power distribution systems in Iloilo City.

Primelectric/NEPC has invested over 2 billion pesos in three years, focusing on modernization and system improvements. They have expanded substation capacities, constructed new substations, and acquired mobile substations to meet growing demands. As a result, system losses have plummeted from a staggering 30% to an impressive 5.5%, ensuring a more reliable and efficient electricity supply for consumers. Furthermore, their proactive approach has significantly reduced unscheduled power interruptions, bringing peace of mind to residents and businesses alike.

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

Consumer-Centric Approach

Primelectric/NEPC’s commitment to consumer satisfaction extends beyond infrastructure upgrades. They have established a 24/7 helpline, manned by dedicated professionals who promptly address electricity-related concerns. This seamless customer support, coupled with field response teams, ensures quick and efficient solutions. Moreover, through strategic negotiations and competitive selection processes, Primelectric/NEPC has successfully secured contracts with cheaper electricity suppliers, resulting in lower average consumer rates. Imagine the relief of paying less for your electricity consumption!

The Challenges Facing CENECO

While Primelectric/NEPC has paved the way for progress, it’s crucial to acknowledge the current challenges faced by CENECO. Nearly half of their facilities, including substations, are over 30 years old and struggling to meet the increasing electricity demand. The lack of funds for repairs and modernization has led to frequent and frustrating unscheduled brownouts, causing inconvenience for consumers. Moreover, CENECO has accumulated significant debts exceeding 600 million pesos, straining their operations and limiting their ability to improve services.

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

The Joint Venture Solution: Say Yes to the JVA!

But here’s where the Joint Venture Agreement (JVA) between Primelectric/NEPC and CENECO comes into play. Primelectric/NEPC is prepared to invest a substantial amount of 1.7 billion pesos in cash, acquiring a significant 70% stake in CENECO’s distribution assets. This infusion of capital will enable CENECO to pay off its debts, return bill deposits to consumers, and provide separation and retirement pay to their dedicated employees. Additionally, any surplus funds can be distributed back to you, the valued member-consumer, as patronage refunds. It’s an opportunity for the community to benefit directly from this collaboration.

Unleashing the Potential

The joint venture company formed by Primelectric/NEPC and CENECO will apply for a new franchise from Congress, ensuring a stable and reliable electricity service for the next 25 years. Your voice matters, and as a member-consumer-owner, you have the power to influence this process. By endorsing the JVA, you’re supporting the employment of qualified individuals from CENECO within the joint venture company, securing jobs for the local workforce, and fostering economic growth in your community.

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

Driving Modernization and Renewable Energy [Say Yes to the JVA!]

Primelectric/NEPC is committed to kickstarting the much-needed modernization, rehabilitation, and upgrading of CENECO’s distribution facilities. They will allocate an initial 2 billion pesos from their Capital Expenditure Fund, ensuring that the necessary improvements occur promptly. The joint venture company will engage in fair negotiations and competitive selection processes to secure contracts with new power suppliers, embracing the global shift towards renewable energy sources. By prioritizing renewable energy, they address environmental concerns and pave the way for sustainable and cost-effective electricity solutions.

Say YES to the JVA! : A Promise of Enhanced Services

Say goodbye to system losses and unscheduled brownouts! With the JVA in place, you can expect significant improvements in service quality. System losses will decrease, ensuring a more efficient and reliable electricity supply. Moreover, the responsive and consumer-friendly approach of NEPC will remain at the core of the joint venture’s operations, with dedicated customer support available at any time. It’s time to experience electricity services that truly cater to your needs!

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

A Win-Win Partnership: Say YES to the JVA!, and Secure Your Share of Dividends!

Dividends matter, and as the Joint Venture Agreement (JVA) between Primelectric/NEPC and CENECO flourishes, it brings forth a remarkable opportunity for all genuine member-consumer-owners like you. During dividend sharing, an incredible 30% of the tips generated by this joint venture will be allocated explicitly to CENECO. This means that by saying YES to the JVA, you will secure your fair share of the dividends, directly contributing to your economic well-being.

It’s time to recognize the significance of this win-win partnership. By supporting the JVA, you actively participate in an endeavor that holds immense potential for your community. Primelectric/NEPC and CENECO will reap the benefits as the joint venture thrives. However, it’s crucial to remember that this distribution of dividends will only occur if you say YES to the JVA!

Embracing Progress: Say YES to the JVA!

Beyond the immediate benefits, supporting the JVA holds immense potential for your community. By attracting more businesses to Central Negros, the joint venture will foster economic growth, creating new job opportunities for Negrenses and increasing tax revenue for the government. It’s an opportunity to build a thriving and sustainable future for generations.

Now is the time to act and say YES to the Joint Venture Agreement (JVA) between Primelectric/NEPC and CENECO. By supporting this transformative partnership, you are actively shaping a brighter future for your community. Join the movement toward enhanced electricity services, lower prices, and a sustainable energy landscape. Let your voice be heard, and together, we can create a prosperous and electrifying future for all. Say YES to the JVA!

Say YES to the JVA! | Joint Venture Agreement – Primelectric and CENECO

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