Negros Electric and Power Corporation (NEPC) guarantees continuous and uninterrupted electricity supply in Central Negros following the approval of its franchise by President Ferdinand “Bongbong” Marcos, Jr.
Marcos signed Republic Act 12011, granting NEPC the franchise to manage and operate electricity distribution systems in Central Negros, on July 26.
This legislation will take effect 15 days after publication in the Official Gazette or a newspaper of general circulation.
NEPC president and CEO Roel Castro expressed gratitude to Marcos, legislators, consumers, and local leaders in Central Negros for their support to the franchise.
“We are grateful that our leaders and everyone are supporting this initiative to improve electric service for consumers,” Castro said.
NEPC, or Negros Power, is a joint venture company between Primelectric Holdings Inc. (PHI) and Central Negros Electric Cooperative (Ceneco).
The franchise bill was introduced by Negrense Representatives Stephen Paduano, Jose Francisco Benitez, Juliet Marie Ferrer, and Greg Gasataya.
It was approved in the House of Representatives on February 21 of this year, amended by the Senate on May 20, and further concurred by the House on May 22, before being forwarded to the Office of the President.
Castro emphasized NEPC’s dedication to improving electric service and fulfilling their promises to consumers.
“We now have the law, it’s time to walk the talk, and we are ready to serve and fulfill our promises to the consumers of Central Negros,” Castro said.
NEPC aims to enhance the distribution of electricity for more than 220,000 power consumers in Negros Occidental cities of Bago, Talisay and Silay, as well as the municipalities of Murcia and Don Salvador Benedicto, and capital Bacolod City.
With the joint venture agreement, PHI will acquire Ceneco’s power distribution assets valued at more than P2 billion, with 70 percent in cash, while 30 percent as Ceneco’s share.
NEPC allocated an initial capital of P2 billion for a five-year plan to rehabilitate and modernize Ceneco’s electric infrastructure, aiming to establish a robust distribution system.
“We seek your continued support and cooperation as we commence the five-year journey of continuous rehabilitation to enhance the system and minimize instances of unscheduled power interruptions,” Castro said.
NEPC will apply for a Certificate of Public Convenience and Necessity from the Energy Regulatory Commission to commence official operations.
Earlier, the National Electrification Administration endorsed Ceneco’s decision on prioritizing loan repayments as well as retirement and separation benefits for Ceneco employees outlined in their Collective Bargaining Agreements.
In June, NEPC and MORE Electric and Power Corporation augmented Ceneco by conducting preventive maintenance activities and responding to calls from consumers.
NEPC also prepared offices, materials and equipment needed in anticipation of their upcoming operation this August to ensure a smooth transition.