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Electric Cooperatives (ECs) nationwide are enjoined by the National Electrification Administration (NEA) to strictly adhere to the recommendations of the Commission on Audit on the implementation of Sitio Electrification Program (SEP) Projects.
In a technical advisory, the NEA said that all ECs must comply strictly with the timeline set for the project completion and energization in Item 3.a of the Memorandum of Agreement between the NEA and the ECs to avoid suspension of further release of subsidy funds.
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The National Electrification Administration (NEA) amended the policy/guidelines on the Annual Electric Cooperative (EC) Overall Performance Assessment to address the heightened demands for power rate reduction, security of power supply, reliability of service, good governance and member-consumer-owners' (MCOs) empowerment.
Based on the new performance assessment criteria, 40 points shall be granted to ECs with sound fiscal management. The Financial Parameters include leverage or level of indebtedness of the EC, liquidity ratio, efficiency, result of financial operation and NEA audit rating. Financial efficiency will be determined through the ECs’ collection efficiency, payment to power suppliers, payment to NEA and payment to banks/other financial institutions.
Read more: NEA ISSUES NEW POLICY GUIDELINES ON ANNUAL EC OVERALL PERFORMANCE ASSESSMENT
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In his visit to Occidental Mindoro today, 29 April 2023, NEA Administrator Antonio Mariano Almeda announced that Occidental Mindoro Consolidated Power Corporation (OMCPC) agreed to simultaneously operate its three power plants to avert the 20-hour rotational brownout in the province.
The NEA Chief said that this agreement came after he met with Mr. Luis Manuel Banzon, the owner of OMCPC.
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Electric cooperatives (ECs) nationwide were reminded by the National Electrification Administration (NEA) to submit their 2023 Sitio Electrification Program (SEP) priority projects and its documentary requirements.
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The residents of Occidental Mindoro will have additional power supply starting 29 April 2023 after the National Electrification Administration (NEA) and Power Systems, Inc. (PSI) agreed in principle to operate the PSI power plant in San Jose, Occidental Mindoro.
The agreement was the result of NEA Administrator Antonio Mariano Almeda’s visit to the province last Tuesday, 25 April 2023. The NEA Chief inspected the power plant of PSI which has a dependable capacity of 5-6 MW. This would give the residents of Occidental Mindoro roughly 6-7 hours of electricity per day.
Based on the agreement, the NEA will contract PSI for a period of two months as a matter of subsidy from the National Government. The cost of the operation will not be passed on to the consumers.
Read more: NEA AND PSI AGREE TO OPERATE POWER PLANT IN OCCIDENTAL MINDORO STARTING APRIL 29
