The Bacolod Sangguniang Panlungsod (SP) is calling on the Board of Directors of the Central Negros Electric Cooperative (CENECO) to issue a resolution calling for a General Assembly of all its member-owners across its franchise areas.
The SP resolution urging the holding of the general assembly authored by Councilor Wilson Gamboa Jr. was approved during its regular session on Wednesday, Jan. 21.
CENECO is a Bacolod-based electric cooperative that on July 31, 2024, was consolidated into Negros Electric and Power Corp. when it entered into a Joint Venture Agreement (JVA). The agreement resulted in Negros Power taking ownership of all of CENECO’s power assets, marking a significant shift in the region’s utility management, Gamboa said.
Gamboa explained that since households in the franchise area remain the official member-owners of CENECO, they must be fully informed of the cooperative’s current financial standing, its remaining assets, and its continuing obligations following its consolidation with Negros Power.
Since the onset of the JVA in 2022, no general assembly of CENECO member-owners has been convened to formally report on the cooperative’s fiscal status, retained assets, or outstanding liabilities, he said.
This lack of a formal gathering has left many members without a clear understanding of the cooperative’s role in the wake of the joint venture, Gamboa said.
The SP-approved resolution underscored that, as a cooperative entity, CENECO has a continuing obligation to its member-owners regarding transparency and accountability.
This includes reporting on remaining funds and obligations, accounting for assets that were either retained or transferred under the JVA, clarifying the status of members’ equity and capital contributions, and explaining the specific mechanisms in place to ensure consumer interests are protected, Gamboa said.
Gamboa underscored that such transparency is vital to protect consumers, especially amid ongoing public concerns regarding electricity rates, service reliability, and long-term power infrastructure
planning.
The general assembly would serve to strengthen public trust and ensure that all actions taken under the JVA are strictly aligned with the principles of cooperative governance.
By addressing these concerns, the move aims to ensure that consumer protection remains a priority following the major structural changes in the local power distribution utility, Gamboa said.*