IMC to be presented at AGMA Print
Saturday, 07 April 2018 13:55

By DEXTER YAP

Will Zamboanga city power consumers approve the Investment Management Contract to be entered into by the Zamboanga City Electric Cooperative (Zamcelco) with Comstech Integration Alliance (COMSTECH)?

This question will be answered once Zamcelco agrees with Comstech on the final terms of a management agreement handing over the operations of the electric cooperative to the Meralco subsidiary.

First District Congressman Celso Lobregat expressed confidence that both entities will agree on the final terms of the contract, a situation that will pave the way for Zamcelco to make a good presentation before its member-consumers at the Annual General Membership Assembly (AGMA).

The contract will have to be approved by majority of the member consumers before it is submitted to the National Electrification Administration (NEA) for final approval.

At present, Zamcelco’s systems loss has reached 21%, eight percent more than the allowable limit of 13%.  The electric cooperative is thus absorbing losses amounting to around P26-million a month.

Lobregat is also concerned about a new Energy Regulatory Commission (ERC) policy providing new figures for allowable systems loss for the next five years.

“If Zamcelco does not improve its systems loss, then it will go bankrupt.  We are already in a very sorry state and that’s why there is an urgency for the new IMC,” Lobregat pointed out.  (Dexter Yap)