The House of Representatives approved House Bill No. 9805, which seeks to grant a franchise to the Negros Electric and Power Corp. (NEPC) to take over the electric power distribution system of Central Negros Electric Cooperative, on third and final reading on Wednesday, February 21.
There were 225 members of the House who voted in favor of the franchise, nine against, and one abstained.
The next step involves transmitting the approved bill to the Senate for its concurrence, a NEPC press statement said.
Upon the Senate’s approval, the bill, signed by the Senate President and the Speaker of the House of Representatives and certified by the respective secretaries, will be forwarded to the President, it said.
If the bill is approved by the President, it will be assigned a Republic Act number and returned to the House of Representatives.
In the case of a veto, the bill, along with an explanation for the veto, will be sent back to the originating House for further action, the NEPC statement said.
The granting of the franchise would allow NEPC to establish, operate, and maintain an electric power distribution system in the cities of Bacolod, Silay, Talisay, and Bago, and the municipalities of Murcia and Don Salvador Benedicto in Negros Occidental for 25 years.
CENECO will still own 30 percent of NEPC and all of its debts and financial obligations will be settled through the Joint Venture Agreement.*