NEA installs new management team at Masbate power co-op
THE National Electrification Administration (NEA) along with Masbate Electric Cooperative (Maselco) are to hold another meeting with DMCI Masbate Corp. after the government agency designated a team to supervise the indebted power distribution utility.
NEA said the meeting would negotiate and discuss the provision of a more reliable electricity to the island province after DMCI Masbate agreed to restore power supply to Maselco pending talks on how the distributor will commit to pay its debts.
The agency said the meeting sought to ensure “more concrete agreements are met and definite solutions are laid out.”
On June 1, NEA said it had deployed a team to Masbate led by Edmundo A. Aguilar, who was designated project supervisor and acting general manager of Maselco. This was after a massive power failure in the province on May 31, which prompted NEA Administrator Edgardo R. Masongsong to place the previous manager Eduardo N. Margallo on 30-day preventive suspension over allegations of gross inefficiency and mismanagement of the cooperative.
A source at DMCI Power Corp. said Maselco has an outstanding obligation of around P273 million as of April 2017, of which it demanded settlement of at least the principal amount of P143 million.
After DMCI Masbate’s demand letter, Maselco asked for an extension to June 30 to settle the principal amount. The source said the utility paid only P20 million on May 30. The power generation company wants the governing body’s assistance to collect what is due to it. It also wants to see the appointment papers of a new general manager.
NEA previously said that the suspension order was in response to the resolutions issued by the Masbate Sangguniang Panlalawigan and the Maselco board after the demand letter of DMCI Masbate on May 24, threatening to cut the power supply of Maselco for failing to settle its overdue obligations.
Mr. Masongsong said the suspension was warranted to forestall any potential destruction of evidence, pending the outcome of the investigation against Mr. Margallo.
Mr. Aguilar had a meeting with Masbate government officials to discuss together with the Maselco employees plans to settle the outstanding bills of the cooperative with DMCI Masbate, NEA said. —