Albay Electric Cooperative, Inc. (ALECO)
NEA Board Member Jose Victor Lobrigo (rightmost) led the NEA Team in support of ALECO. Also in the picture are EC Audit Director Veronica Cruz, Accounts Management Department Director Leila Bonifacio and Institutional Department Director Milagros Quinajon.
Engr. Paulino Lopez, head of the NEA Management Team in ALECO, introduces the Presiding Officer, Assistant Presiding Officer and Moderator for the Special General Membership Assembly.
Presiding Officer, Fr. Ramonchito Segubience, calls the assembly into order. With him are (L-R) Fr. Rex Argona (Asst. Presiding Officer), and Prof. Jesus Bariso ( Moderator/Facilitator).
Ms. Marina Marqueses of ALECO reports that a quorum has been determined and reads the Notice of the SGMA to the attendees.
Atty. Lyn Rose Baroga, ALECO’s Finance Manager, presents an update on ALECO’s operations including its Audit Report, Power Source Situation, Liability with the Philippine Electricity Market Corporation and other debtors and arbitration conference result.
Ms. Lipeth Felin of ALECO presents to the assembly the proposed Special Payment Arrangement (SPA) to PEMC wherein overdue account of the coop amounting to P974 million will be paid in three years commencing July 2011 with an amortization of P28M per month with the funds coming from the rate recovery and additional contribution from the consumers.
Deputy Administrator Edgardo Piamonte of the Electric Distribution Utilities Services answers a question on systems loss during the Open Forum.
Member-consumers ask questions from the management of ALECO and assurance of better service if they agree to the proposal.
The ALECO memberconsumers votes in favor of the approval of the SPA, the ratification of the Authority of the NEA Project Supervisor/Acting General Manager to sign the SPA and the grant of Authority to NEA PS/AGM to designate representatives of ALECO and to sign documents regarding the Arbitration Proceeding with the Dispute Resolution Panel (DRP); hire Legal Counsel; and enter into compromise agreement with PEMC, as the case may be.