Ceneco debts reach P613 million as of June 2023
BACOLOD City – Central Negros Electric Cooperative (Ceneco) general manager Atty. Arnel Lapore confirmed that the debts of the electric cooperative have reached P613,124,390.81 as of June 2023. Based on data that Lapore shared with Daily Guardian Wednesday, Ceneco’s loans from the National Electrification Administration (NEA) totaled P62,897,773.65. Loans from banks totaled P181,029,022.27 while bill

By Dolly Yasa
By Dolly Yasa
BACOLOD City – Central Negros Electric Cooperative (Ceneco) general manager Atty. Arnel Lapore confirmed that the debts of the electric cooperative have reached P613,124,390.81 as of June 2023.
Based on data that Lapore shared with Daily Guardian Wednesday, Ceneco’s loans from the National Electrification Administration (NEA) totaled P62,897,773.65.
Loans from banks totaled P181,029,022.27 while bill deposits (which are refundable to consumers) amounted to P277,489,144.98. The retirement fund arrears totaled P37,708,449.91 and security bond to Kepco Salcon Power Corp at P54 million.
Lapore said that as of May 31, 2023, Ceneco’s system loss (electricity lost to technical reasons and pilferage) is 10.48%.
He said the cooperative is losing P15 million monthly while the accumulated losses are P60.8M
NEA categorization for Ceneco in 2021 was Triple A but it was downgraded to Single A in 2022.
Because of its debts, the cooperative has not allocated funds for capital expenditure since 2011 which could have been used for the rehabilitation and upgrading of its facilities.
Ceneco’s franchise will expire in 2030.
Data also showed that 40% of the Distribution Charge collection goes to the salaries and bonuses of more than 400 employees.
Lapore earlier said that the Joint Venture Agreement with Primelectric Holdings Inc. is a needed shot in the arm for Ceneco.
He also said that the cleansing of the voters’ list has already started and may last for 60 days.
Earlier, the National Electrification Administration granted the request of local chief executives under the franchise area of Ceneco to temporarily suspend the plebiscite on the JVA in order to cleanse the voters’ list.
Article Information
Comments (0)
LEAVE A REPLY
No comments yet
Be the first to share your thoughts!
Related Articles
DENR pushes 2027 deadline for new Iloilo bulk water supply
A top official of the Department of Environment and Natural Resources said Iloilo must have a new bulk water supply operational by 2027, warning that the city’s rapid urban growth will further increase water demand in the coming years. Carlos Primo David, DENR undersecretary for integrated environmental science and head of

Treñas-Chu slams MPIW over permit delay claims
Iloilo City Mayor Raisa Treñas-Chu criticized Metro Pacific Iloilo Water on Thursday for what she described as the company’s failure to directly raise concerns about alleged delays in the processing of permits for its desalination plant project in Barangay Ingore, La Paz. “I would have appreciated it if MPIW had informed
