President Ferdinand Marcos Jr. has approved the franchise for Negros Electric and Power Corporation (NEPC) to manage and operate the electricity distribution system in Central Negros.

The President signed Republic Act No. 12011 on 26 July 2024, a day before it would have lapsed into law. This legislation will come into effect 15 days after publication in the Official Gazette or a newspaper of general circulation.

The bill originated in the House of Representatives and was introduced by Negrense Representatives Stephen Paduano, Jose Francisco Benitez, Juliet Marie Ferrer, and Greg Gasataya. It was approved by the House on 21 February 2024, amended by the Senate on 20 May 2024, and further concurred by the House on 22 May 2024, before being forwarded to the Office of the President.

NEPC, also known as Negros Power, is a joint venture company between Primelectric Holdings Inc. (PHI) and Central Negros Electric Cooperative (CENECO), established to enhance power distribution and customer service for over 220,000 active accounts in the cities of Bacolod, Bago, Talisay, Silay, and municipalities of Murcia, and Don Salvador Benedicto.

Within the agreement, PHI will acquire all power distribution assets of CENECO valued at over P2-billion, with 70 percent in cash and the remaining 30 percent as CENECO's share in NEPC.

The National Electrification Administration (NEA) endorsed CENECO's decision while instructing priority on loan repayments, and employee retirement and separation benefits payments outlined in their Collective Bargaining Agreements.

Negros Power has confirmed the employment of over 200 CENECO employees.

Negros Power and MORE Power have augmented CENECO and jointly conducted preventive maintenance activities, and responded to trouble calls from consumers.

Negros Power also prepared their offices, materials, and equipment needed in anticipation of their upcoming operation this August to ensure a smooth transition.

Expressing gratitude to the President, legislators, consumers, and local leaders in Central Negros for their support, Negros Power President and CEO Roel Castro emphasized the company's dedication to improving electric service and fulfilling promises to consumers.

"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," Castro said.

Negros Power has allocated an initial capital of P2 billion for a five-year plan to rehabilitate and modernize the electric infrastructure, aiming to establish a robust distribution system.

Castro urged ongoing support and collaboration for the planned five-year rehabilitation journey to improve the system and reduce incidents of unscheduled power outages.

"We seek your continued support and cooperation as we commence the five-year journey of continuous rehabilitation to enhance the system and minimize instances of unscheduled power interruptions," he added.

Negros Power will then apply for a Certificate of Public Convenience and Necessity (CPCN) from the Energy Regulatory Commission (ERC) to commence official operations.