By Ramil H. Bajo
KORONADAL CITY — Central Negros Electric Cooperative (CENECO), the third-largest electric cooperative in the Philippines, has gained significant improvements in both service delivery and financial performance since partnering with Ignite Power, according to a lawyer.
Atty. Allana Mae Babayen-on, lawyer for Primelectric Holdings, Inc./Ignite Power, provides updates to local reporters during engagements in various local public forums in General Santos City.
According to Atty. Babayen-on, the partnership between Ignite Power and CENECO, formalized through a joint venture agreement, established the Negros Electric and Power Corporation (Negros Power), which now holds a 25-year franchise to function as a distribution utility across key areas in Negros Occidental, including the cities of Bacolod, Silay, Bago, and Talisay, as well as the municipalities of Murcia and Don Salvador Benedicto.
Under the 70-30 ownership arrangement between CENECO and Ignite Power, the cooperative has achieved impressive triumphs in just 16 months of operations.
System losses have been reduced in from 12% to 6%, there has been a 60% decrease in unscheduled outages, and the average duration of service interruptions has been reduced by 90%. Furthermore, the area now maintains the lowest electricity rate in the region.
The said improvements come on the heels of Primelectric’s initial capital investment of over ₱2 billion to rehabilitate power distribution facilities, as part of a comprehensive five-year development plan.
Beyond improved service reliability, the partnership has diversified CENECO’s income streams substantially.
Atty. Babayen-on said the cooperative now generates monthly revenue ranging from ₱100,000 to ₱200,000 through various ventures, including ownership of a hotel, third-party contracting services, and asset leasing.
Inspired by its success in Negros, Primelectric, along with Ignite Power, is proposing a similar joint venture with South Cotabato II Electric Cooperative (SOCOTECO II) to modernize the cooperative’s infrastructure and upgrade electricity services for residents and businesses in General Santos City, Sarangani province, as well as in the municipalities of Tupi and Polomolok within the 1st District of South Cotabato. ##
