- GILBERT BAYORAN
Following the endorsement of Mayor Alfredo Benitez, the Metro Bacolod Chamber of Commerce and Industry (MBCCI) on Tuesday, June 20, aired its support to the Joint Venture Agreement between the Central Negros Electric Cooperative and Primelectric Holdings Inc.
The MBCCI, headed by Roberto Montelibano, said that while they are supporting the JVA, they will vigilantly monitor the delivery of the promises of MORE Electric and Power Corporation, the sister company of Primelectric Holdings Inc., and Ceneco throughout the joint venture period.
The decision to support the JVA, Montelibano said, was made after a thorough study of the proposal following a meeting with MORE Power president Roel Castro.
As the voice of the business sector in Negros Occidental, Montelibano said the MBCCI has focused advocacy on business growth and socio-economic development, water, power, and connectivity, which are vital for development.
Montelibano said that the JVA assures actual payment of 70 percent of the assets of Ceneco, that will be assessed by an independent third party valuator, and to be used by the joint venture company upon its execution.
He also noted a concrete and doable program for the reduction of system loss that will lead to lower and affordable power rates, acquisition of needed capital expenditures, and a strategic massive rehabilitation leading to 24/7 supply, lower occurrence of unscheduled power interruptions, more efficient operations, and reasonable power rates.
MORE Power also assured a proactive information system, use of the latest technologies to monitor service areas, and a state-of-the-art customer care program, which means faster responses to the requests of consumers, Montelibano said.
The employees of Ceneco will be rehired if qualified and given adequate compensation, and the joint venture will have corporate social responsibilities and partnerships that will help communities, LGUs, and barangays, he added.
Montelibano also said that Ceneco, having 30 percent equity in the joint venture, will have representation in the governing board.
Benitez described the JVA as a “white knight” that would save power consumers from a looming disaster.
Having sustainable and efficient power supply is also highly crucial to Bacolod’s aspiration to become a “super city”, he stressed.
Rallying Bacolodnons to vote “Yes” to JVA during the plebiscites set on June 24 and 25, as well as on July 1 and 2, Benitez also said that he will remain vigilant to ensure that the JVA’s objectives are ultimately realized./GB
