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PIA Press Release
2006/10/08

Leyeco II is second top gainer electric cooperative in RP

Tacloban City (October 8) -– The Leyte II Electric Cooperative (LEYECO II) is the country’s second top gainer electric cooperative. This was disclosed by Ms. Macel Cumpio Avestruz who represented Manager Jerry Gwen Conde during the recently conducted Harampang Ha PIA media interaction.

Ms. Avestruz said that from being one of the worst electric cooperatives in the country in 1994, LEYECO II rose to where it is now because of the cooperation and support of the member consumers.

From Class D electric cooperative, LEYECO II is now a category A+. In the past four years, LEYECO II has been incurring net losses but because such are within the 14 percent allowable net loss, the electric cooperative still retained the A+ category.

This is also due to the good financial management which is being implemented by the electric cooperative. This, Ms. Avestruz clarified, means that the electric cooperative is able to pay promptly, its obligations to Transco, the administrative costs and the loan amortization.

She clarified however, that the net losses were incurred during the years when the electric cooperative was subsidizing the Genco and Tranco expenses because the Energy Regulatory Commission has not yet allowed these to be passed on to consumers.

After the unloading, LEYECO II has reported gains which made it the number two gainer electric cooperative all over the country.

Recognizing the consumers as part-owners of the electric cooperative, Ms. Avestruz said that periodic barangay dialogues are being conducted in the different districts of the area of coverage. Ms. Avestruz revealed that due to the clamor of the people in Babatngon voiced out during the dialogue, the personnel assigned in the area have been replaced.

She added that on October 8, a dialogue is scheduled at District III which is at the downtown area of Tacloban, so that the consumers will have the chance to voice out their concerns and suggestions. The dialogue, she said, will be held at the Kanhuraw Convention Center . (PIA 8) [top]

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