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Bacolod City, Philippines Friday, December 9, 2011
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CENECO eyeing
CDA application

The Central Negros Electric Cooperative board is seriously considering forming a committee that will study the possibility of the electric cooperative applying with the Cooperative Development Authority, its president, Arnel Lapore, said yesterday.

Lapore said they will take the matter up as part of their agenda in their December 21 board meeting and discuss the pros and cons of having CENECO become a member of the CDA.

Meanwhile, Lapore said the city government has already paid P18 million out of its P33 million account with CENECO and has agreed to settle the balance in February.

The city’s old account with CENECO was P186 million that was subject of a compromise agreement entered into by former CENECO president Vicente Sabornay, not Eward Gasambelo, as earlier reported.

Former CENECO director Roberto Benedicto was the signatory of an agreement with the city where, out of the P186 million, half of the P33 million will be plowed back to the city in terms of electrification projects.

Lapore said the remaining P166 million is subject of litigation in court for declaratory relief and will touch on the interpretation on what constitutes gross receipts.

The position of the city is that business taxes should be assessed based on the gross receipts of CENECO, he said.

CENECO’s stand is it should only be liable for the distribution charges, not for the generation and transmission charges, he added.

Lapore also said there is P166 million which the city wants to collect as a counter-claim from CENECO for the issue of business tax.

It is the position of the city that CENECO is liable to them for its business tax, based on the gross receipt principle, he said.*CGS




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