11 electric cooperatives still in the red–NEA

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The National Electrification Administration (NEA) said on Thursday that 11 out of the 121 electric cooperatives (ECs) under its watch remain in the red.

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National Electrification Administration’s Edgardo Masongsong, speaking at a press briefing in Quezon City on Thursday, said 11 out of 121 electric cooperatives (ECs) under its watch are still in the red. PHOTO BY JORDEENE SHEEX LAGARE

Four of the ailing cooperatives were on their way to financial and operational recovery after the government stepped in, NEA Administrator Edgardo Masongsong said at a press briefing in Quezon City.

Abra Electric Cooperative Inc. was placed under management intervention, while Camarines Sur III Electric Cooperative Inc., Davao Del Norte Electric Cooperative Inc., Masbate Electric Cooperative Inc., and Lanao del Sur Electric Cooperative Inc. were affected by the ongoing siege in Marawi City.

The other cooperatives with a negative bottom line include Albay Power and Energy Corp., Pampanga II Electric Cooperative Inc., Ticao Island Electric Cooperative Inc., Tawi-Tawi Electric Cooperative Inc., Basilan Electric Cooperative Inc., and Sulu Electric Cooperative Inc.

Masongsong said two other cooperatives would be placed under management intervention before the end of the year.

He said the government intends to complete the rehabilitation of these cooperatives as soon as possible.

Meanwhile, Masongsong reported Under the NEA Sitio Electrification Program, the government electrified 32,441 sitios from 2011 to 2016. But 23,464 sitios were still without electricity.

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