Marcos-approved: Negros Power ready to take over Central Negros
Marcos’ signing of Republic Act Number 12011 just a day before it would have lapsed into law allowed Negros Power to enhance power distribution and customer service for over 220,000 active accounts in the cities of Bacolod, Bago, Talisay, Silay, and the municipalities of Murcia and Don Salvador Benedicto
ICTSI chairman and president Enrique K. Razon Jr.
Photograph courtesy of ICTSI
A new power company, led by businessman Enrique K. Razon Jr., is officially taking over the operations and management of the electricity distribution system in Central Negros to provide stable services to consumers.
Marcos’ signing of Republic Act Number 12011 just a day before it would have lapsed into law allowed Negros Power to enhance power distribution and customer service for over 220,000 active accounts in the cities of Bacolod, Bago, Talisay, Silay, and the municipalities of Murcia and Don Salvador Benedicto.
The bill was initiated in the House of Representatives by Negrense Representatives Stephen Paduano, Jose Francisco Benitez, Juliet Marie Ferrer and Greg Gasataya.
It gained approval at the lower chamber on 21 February.
Subsequently, the Senate made amendments to the bill on 20 May, which were later concurred by the House on 22 May. After this process, the bill was forwarded to the Office of the President for further action.
Time to walk the talk
“We are grateful that our leaders and everyone are supporting this initiative to improve electric service for consumers. We now have the law, it’s time to walk the talk, and we are ready to serve and fulfill our promises to the consumers of Central Negros,” Negros Power president and CEO Roel Castro said.
According to Castro, Negros Power has allocated an initial capital of P2.5 billion for a five-year plan to rehabilitate and modernize the electric infrastructure in the province.
However, before it can formally start official operations, Negros Power needs to apply for and secure a Certificate of Public Convenience and Necessity from the Energy Regulatory Commission.
PHI acquisition of CENECO assets
To recall, PHI acquired all power distribution assets of CENECO valued at over two billion pesos, with 70 percent in cash and the remaining 30 percent as CENECO’s share in Negros Power.
The National Electrification Administration endorsed CENECO’s decision while instructing priority on loan repayments, and employee retirement and separation benefits payments outlined in their Collective Bargaining Agreements. Thus, Negros Power said it employed over 200 CENECO employees.