info@socoteco-1.com | customercare@socoteco-1.com

News and Updates

97 power coops move up in latest NEA assessment

April 17, 2017

 Ninety-seven electric cooperatives (ECs), or 80% out of the 121 ECs in the country are now categorized A or higher, as the National Electrification Administration (NEA) released this week the results of the 2016 EC Overall Assessment Performance.

NEA Administrator Edgardo Masongsong said “the results of the assessment attest to NEA’s successful campaign efforts to make the ECs more operationally reliant to better serve their Member-Consumer-Owners (MCOs).”

“The NEA, together with the 121 ECs nationwide, is one with the thrust of President Rodrigo Duterte in intensifying rural development as a vital component of economic growth. To achieve this, we endeavour to institute more capacity-building programs for the ECs and activate local consumer groups that will help us sustain electrification in the grassroots level,” he noted.

All ECs in Western and Central Visayas and Caraga have kept their AAA status, which according to the Administrator have “resulted from the ECs’ initiatives to consistently increase efficiencies on financial, institutional, and technical areas of their operations.”

Meanwhile, the number of AAA-rated ECs jumped to 77 in 2016 from 70 in 2015. Sixty-nine ECs maintained their AAA status, while eight ECs were able to improve their rating to AAA from either AA, A, or B.

These eight ECs include Pangasinan I Electric Cooperative (Panelco I), Benguet Electric Cooperative, Inc. (Beneco), First Laguna Electric Cooperative, Inc. (Fleco), Romblon Electric Cooperative, Inc. (Romelco), Camarines Norte Electric Cooperative, Inc. (Canoreco), Central Negros Electric Cooperative, Inc. (Ceneco), Negros Occidental Electric Cooperative (Noceco), and Davao Oriental Electric Cooperative, Inc. (Doreco).

Of the 77 ECs rated as AAA, 24 scored 100 points, namely Ilocos Sur Electric Cooperative, Inc. (Iseco), La Union Electric Cooperative, Inc. (Luelco), Cagayan I Electric Cooperative, Inc. (Cagelco I), Tarlac II Electric Cooperative, Inc. (Tarelco II), Nueva Ecija I Electric Cooperative, Inc. (Neeco I), Nueva Ecija II Electric Cooperative, Inc. – Area 1 (Neeco II – Area 1), Nueva Ecija II Electric Cooperative, Inc. – Area 2 (Neeco II – Area 2), Pampanga Rural Electric Service Cooperative, Inc. (Presco), Pampanga I Electric Cooperative, Inc. (Pelco I), Peninsula Electric Cooperative, Inc. (Penelco), Iloilo II Electric Cooperative, Inc. (Ileco II), Cebu II Electric Cooperative, Inc. (Cebeco II), Cebu III Electric Cooperative, Inc.  (Cebeco III), Province of Siquijor Electric Cooperative, Inc. (Prosielco), Bohol I Electric Cooperative, Inc. (Boheco I), Bohol II Electric Cooperative, Inc. (Boheco II), Leyte V Electric Cooperative, Inc. (Leyeco V), South Cotabato I Electric Cooperative, Inc. (Socoteco I), South Cotabato II Electric Cooperative, Inc. (Socoteco II), Agusan del Sur Electric Cooperative, Inc. (Aselco), Siargao Electric Cooperative, Inc. (Siarelco), Dinagat Island Electric Cooperative, Inc. (Dielco), Surigao del Sur I Electric Cooperative, Inc. (Surseco I), and Surigao del Sur II Electric Cooperative, Inc. (Surseco II).

The performance rating is based on two criteria, namely the Key Performance Standards (80%) and the Electric Cooperatives Classification (20%).

The KPS cover 32 financial, institutional, technical, and reportorial compliances indicators and standards, while the EC Classification covers seven financially-driven standards and parameters including power accounts to the National Grid Corporation of the Philippines (NGCP).

Using the KPS and EC Classification, corresponding ratings were given to scores garnered by ECs, as follows: 95-100 = AAA; 90-94 = AA; 85-89 = A; 75-84 = B; 50-74 = C; and 49 and below = D.

“As we congratulate the best performing ECs in the country, I wish to encourage them to sustain their operations, as well as address the pressing demand for lowering power rates,” NEA Administrator Masongsong said.

He added that “the ECs must innovate and not allow their performance to retrogress, as it is through rural electrification that the Member-Consumer-Owners can begin to have access to social services and quality investment and jobs.” ###