By Dolly Yasa
BACOLOD City – The Metro Bacolod Chamber of Commerce and Industry (MBCCI) on Tuesday said it will keep tabs on the promises of the proposed Joint Venture Agreement (JVA) between Central Negros Electric Cooperative (Ceneco) and a private firm.
MBCCI president Roberto Montelibano said they will monitor if Primelectric Holdings Inc. (PHI) can deliver its pledges once it takes over this city’s distribution services.
He added that what the chamber desires from the joint venture is an affordable, reliable, and available power supply.
Montelibano said that MBCCI as the voice of the business sector in Negros Occidental has focused advocacy on business growth and socio-economic development, water, power and connectivity are some essential utilities vital for development.
“While we support the JVA, MBCCI and the business sector will vigilantly monitor the delivery of the promises of Primelectric and Ceneco throughout the joint venture period,” Montelibano said.
The MBCCI joined a business forum held at Seda Hotel that examined the salient features of the JVA.
Among the features presented is the actual payment of 70 percent of Ceneco assets, particularly distribution facilities. The assets were valued by an independent third-party valuator.
The JVA also promised a concrete and doable program for the reduction of system loss that will lead to lower and affordable power rates.
System loss refers to electricity lost to technical reasons and pilferage.
The JVA also vowed to a “strategic massive rehabilitation leading to 24/7 supply, lower occurrence of unscheduled power interruptions, more efficient operations and reasonable power rates.”
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 requests of consumers will also be part of the JVA programs.
Employees of Ceneco will be rehired if qualified and given adequate compensation.
The joint venture will also initiate corporate social responsibilities and partnerships that will help communities and local government units.
Ceneco will have 30 percent equity in the joint venture and representation in the governing board that will oversee the joint venture.