SOCOTECO II-IGNITE deal hinges on September vote



The Court of Appeals (CA) has upheld a carnapping charge against Chao-Tiao Yumol II, ruling that prosecutors…

Semirara Mining and Power Corp. (SMPC) is letting go of 462 mine-site employees as a sharp reduction in coal production…
Magkakaroon ng bawas-singil sa kuryente ang Manila Electric Company (MERALCO) ngayong buwan ng Agosto.

The Court of Appeals has upheld the carnapping charge against Chao-Tiao II Yumol, ruling that the indictment…

Manila Electric Company (Meralco) customers will see slightly lower electricity bills in August as a P9.5-billion…
The proposed partnership between South Cotabato II Electric Cooperative (SOCOTECO II) and IGNITE Power will hinge on a September plebiscite, when around 200,000 member-consumer-owners will decide whether the cooperative can proceed with a deal intended to modernize its power distribution system.
The vote represents the next major hurdle for the proposed Conditional Joint Venture Agreement after some 32,000 MCOs endorsed the proposal during the cooperative’s annual general membership assembly last 25 July.
For the partnership to be finalized, however, it must secure the approval of a majority — or 50 percent plus one — of all qualified MCOs, consistent with the requirements of Presidential Decree No. 269, as amended.