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The National Electrification Administration (NEA) welcomed on Monday the signing of a Memorandum of Agreement between the provincial governments of Oriental and Occidental Mindoro and their respective electric cooperatives (ECs) with the Maharlika Investment Corporation (MIC).

Leading the ceremony was NEA Administrator Antonio Mariano Almeda, with the event graced by MIC President and CEO Rafael Jose Consing, Jr., Occidental Mindoro Gov. Eduardo Gadiano, Oriental Mindoro Gov. Humerlito Dolor, and Department of Finance Usec. Catherine Fong.

As of 31 March 2024, the National Electrification Administration (NEA) extended a total of PhP263.78 Million worth of loans to 12 electric cooperatives (ECs).

According to the latest data from the NEA Accounts Management and Guarantee Department (AMGD), PhP178.45 Million was used for the Capital Expenditure (CapEx) projects of 9 ECs. These are the Tablas Island Electric Cooperative, Inc. (TIELCO), Masbate Electric Cooperative, Inc. (MASELCO), Iloilo II Electric Cooperative, Inc. (ILECO II), Bohol I Electric Cooperative, Inc. (BOHECO I), Bohol II Electric Cooperative, Inc. (BOHECO II), Leyte V Electric Cooperative, Inc. (LEYECO V), Bukidnon Second Electric Cooperative, Inc. (BUSECO), South Cotabato I Electric Cooperative, Inc. (SOCOTECO I) and Siasi Electric Cooperative, Inc. (SIASELCO).

Administrator Antonio Mariano Almeda called on all 121 electric cooperatives (ECs) nationwide to share their best practices with one another in order to enhance the reliability and efficiency of their power distribution services for the benefit of their member-consumer-owners (MCOs). This was done through a summit organized by the National Electrification Administration (NEA) on Monday, 01 April 2024.

Included in the agenda are the following areas of concern:  fluctuating voltage in the technical systems of the co-ops; management of the EC Reinvestment Funds and EC Retirement Funds; loan facilities to establish the Advanced Metering Infrastructure (AMI), Supervisory Control and Data Acquisition System (SCADA) and Geographic Information System (GIS) of the ECs; concerns with respect to the enhanced Integrated Computerized Planning Model (e-ICPM); and the timeline of EC bidding activities.