TACLOBAN CITY- The National Electrification Administration (NEA) administrator Edgardo Masongsong is confident that the power rate in the region would reduce with all of its 11 electric cooperatives attaining a triple A category.
The NEA administrator assured that with the triple A categories of almost all electric cooperatives in the region, power rates is bound to reduce.
At present, the average power rate in the region is at P9.35 per kilowatt hour.
Masongsong said that except for the Northern Samar Electric Cooperative (Norsamelco), all the electric cooperatives in the region are now categorized as triple A, the highest category being given by NEA to an electric cooperative in the country.
“It is the first time that almost all electric cooperatives in a region is categorized triple A except for one,” the NEA administrator said.
Masongsong explained that although Norsamelco is the lone electric cooperative who failed to achieve a triple A category, it has shown tremendous improvement for the past years now which could led for it to achieve a triple A rating.
Report of mismanagement has led Norsamelco, the electric cooperative which covers the entire Northern Samar province, for it to be declared in the brink of bankruptcy which resulted for the NEA to take over its management in 2013.
Masongsong added that performance is not only about achieving a triple A category but also by reducing the systems loss and achieving a 100 percent collection efficiency which could lead to a reduction of power rate.
The 11 electric cooperatives in the region have been consistently efficient on their financial, institutional, and technical areas of operation thus the category.
The performance rating is based on two criteria, namely, the Key Performance Standards or KPS (80 percent) and the electric cooperatives classification (ECC) (20 percent).
The KPS cover 32 financial, institutional, technical and reportorial compliances indicators and standards, while the ECC covers seven financially driven standards and parameters, including power accounts to the National Grid Corp. of the Philippines.
Using the KPS and ECC, corresponding ratings were given to scores garnered by ECs, as follows: 95-100 =AAA; 90-94=AA; 85-89=A; 75-84=B; 50-74=C; and 49 and below=D.
Masongsong attended the first ever regional Lumens Awards held in Calbayog City Friday giving recognition to the achievements of the electric cooperatives in the region.