The hearing on the application of the Central Negros Electric Cooperative for its capital expenditure program with a project cost of P670.9 million was reset to July 22 at the Energy Regulatory Commission in Manila, and coincides with the State of the Nation Address of the President.
CENECO president Arnel Lapore said yesterday the hearing of their application at the ERC in Manila earlier scheduled on July 4 was reset because the intervernors did not appear. The scheduled hearing on July 22 will be on the presentation of evidence.
CENECO asked ERC to grant it provisional authority to implement the projects while the case is pending, saying it will enable it to deliver more reliable and efficient electric service to consumers.
It said its projects will be financed through the Reinvestment Fund for Sustainable Capital Expenditures Rate approved by the Commission, and from funds acquired through loans from identified financiers.
CENECO general manager Sulpicio Lagarde, had said earlier that CAPEX, that, was filed on Jan. 11, 2011, envisions a least rate impact focusing on a capital expenditure plan that will bring the most value to its customers at the most reasonable and justifiable electricity rate, or at the least cost of service.
During the hearing of the case in Bacolod City last February 27, Director Roy Cordova declared before the hearing officer that he and Director Zenaida Lacson opposed the passage of the Ceneco Board Resolution seeking ERC approval of the proposed CAPEX.*CGS