NEA to take over Zamcelco Print
Saturday, 11 August 2018 14:10


The National Electrification Administration (NEA) is preparing to implement a “partial and temporary” takeover of the Zamboanga City Electric Cooperative (Zamcelco) to prevent the further plunge of the electric cooperative into bankruptcy.

“The NEA will take over to make sure (there will be) no power interruption and make sure that power suppliers will continue to supply Zamcelco with power,” said NEA Administrator Edgardo Masongsong.

The takeover was decided during a stakeholders meeting yesterday at the Zamcelco Multi-Purpose Hall attended by city officials.

NEA Administrator Edgardo Masongsong is currently reviewing a memorandum that will enable the government agency to look into the operation and management of Zamcelco.

NEA is expected to check on Zamcelco’s systems loss problem, figures of which are said to have reached more than 20%.

The government agency will also check on reports of corruption and the electric cooperative’s collection efficiency.

The monitoring will be done with the help of the organization of electric cooperatives and the stakeholders.

Meanwhile, participants during the meeting are unanimous in saying that the electric cooperative needs to enter into an Investment Management Contract (IMC) and the takeover by NEA.  (RGAAGo)