Albay votes for SMC takeover of electric co-op
By Alena Mae S. Flores | Posted on September 16, 2013 at 12:03am | 400 viewsPower consumers in Albay province voted to allow the privatization of debt-ridden Albay Electric Cooperative to ensure the delivery of uninterrupted electricity in the province.
Unofficial results of a referendum held by the National Electrification Administration Saturday showed that most power consumers in the province were open to the entry of a private sector in Aleco, instead of having another electric cooperative take over the operation.
San Miguel Corp. was the lone private sector bidder in the takeover of the management of the electric cooperative.
Energy Department director Mylene Capongco confirmed the results of the referendum, but said it remained “unofficial.”
Another source privy to the referendum said the results showed “PSP [private sector participation] is ahead of cooperative to cooperative by 2,015 votes.”
Another source said following the results of the referendum, the interim board of Aleco would now issue the notice of award to San Miguel subsidiary SMC Global Power Holdings Corp.
“The next step now is the confirmation of award to SMC, then signing of the concession agreement, then assumption in the management of Aleco,” the source said.
The interim board of Aleco earlier approved the bid offer of San Miguel.
Energy Secretary Carlos Jericho Petilla earlier said it was the only bidder interested in taking over the operations of Aleco after the others withdrew.
“There is one bidder and that’s San Miguel. Aleco conducted the bidding and is currently evaluating the bid [of San Miguel]. I believe so, [they are the winning bidder]. San Miguel is already the winning bidder given the absence of other bidders,” Petilla said.
Petilla said under the terms of reference, San Miguel would just manage Aleco, and not have ownership over the electric cooperative of Albay.
PUTANG-INA, TINULUNGAN PA SILA NG ENERGY SECRETARY NA SI JERICHO PETILLA!
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