The National Electrification Administration said it plans to partially and temporarily take over the management of the Zamboanga City Electric Cooperative in order to help resolve key issues besetting the power coop.
The impending NEA takeover aims to ensure a smooth, orderly, timely and transparent process for the selection of a credible and experienced power distributor that will operate and manage Zamcelco under an investment management contract.
Zamcelco is reeling from a systems loss level of 23 percent and over P2 billion in liabilities that include over P1.3 billion in outstanding debt to power suppliers.
NEA administrator Edgardo Masongsong disclosed the plan at the end of a power stakeholders summit presided over by NEA in Zamboanga City Friday.
The summit, which was initiated by Zamboanga City Rep. Celso Lobregat, brought together the city’s various stakeholder segments, including consumer and industry groups, local and national government officials as well as community and religious leaders.