Primelectric/NEPC (MORE Power) to tap renewable energy to bring down Ceneco rated

Primelectric Holdings Inc. will tap renewable energy from Negros Island to help bring down power rates in the coverage area of the Central Negros Electric Cooperative (CENECO).

This was the commitment of Roel Castro, MORE Power president and chief executive officer, during his presentation in front of Bacolod City officials led by Mayor Albee Benitez on Friday.

Power rates are dictated by generation which we have no control of, Castro said, citing the unstable prices of coal and oil which affect power rates.

“We will try to shift towards renewable energy so that it will not be affected. It will not happen overnight. It will go through a process. They asked for assurance from us. We are sincere in bringing positive change for the consumers,” Castro said.

He added that if the member – consumers approve the joint venture agreement (JVA) during the scheduled plebiscite it will bring down the systems loss of CENECO currently pegged at P20 million a month.

We will have funds for the improvement of the facilities on Day 1 already, he said.

You need a lot of equipment and replacement of existing faulty ones as well as converting the illegal connections to legal, Castro pointed out.

Castro added that he is confident that he answered all the questions of Benitez and the other city officials.

He also clarified that Primelectric is not connected to Prime Water which also has an existing JVA with the Bacolod City Water District (BACIWA).

“We have different owners,” he said.

As to criticisms about Primelectric, Castro said “let us just be truthful.”

Councilor Claudio Puentevella, chair of the Sanggunian Panglunsod Committee on Energy, said he understands the advantages and disadvantages of the JVA.

Puentevella said that he sees the solutions presented by Primelectric to address the problems of systems loss and brownouts.

“Our best option right now is to look for a partnership that will help CENECO to improve power services,” the councilor said.

Benitez earlier said that he will only support the JVA if it will lower the power rates in Bacolod, address the problem of fluctuating power and brownouts, and goes for green energy.* (EYA)