Local government units under the franchise area of Central Negros Electric Cooperative (CENECO) owe the power utility firm a total of P250 million with Bacolod City topping the list with P217 million.
But despite this, CENECO reported an net income of P23 million for 2012 during its Annual General Membership Assembly held at the USLS gym, Saturday.
The LGUs and line agencies owe CENECO a total of P350 million in dues.
Eng’r. Sulpicio Lagarde, Ceneco general manager lamented that if only the LGUs pay their account then the power utility firm need not resort to loan for its rehabilitation program.
CENECO president Atty. Arnel Lapore (left) reads the plague of appreciation
for Negros Occidental governor Alfredo Maranon (center) as guest speaker during
CENECO’s 38th AGMA while looking on is CENECO general manager Sulpicio Lagardo
(right).*