NORECO-I receives 'triple A' rating from NEA

NORECO-I General Manager Jose Juvileo Acabal expresses his gratitude to all member-consumers of the cooperative for their prompt payment which resulted to a high collection efficiency rating given by the National Electrification Administration (NEA) to NORECO-I. Acabal addressed the cooperative's member-consumers in La Libertad during a Kapihan Forum held there on Jan. 24, 2020. (PIA7-Negor)

LA LIBERTAD, Negros Oriental, Jan. 27 (PIA) — The National Electrification Administration (NEA) has granted Negros Oriental Electric Cooperative (NORECO)-I an ‘AAA’ rating, the highest score given by NEA to an electric distribution company for complying with its standards.

NORECO-I General Manager Jose Juvileo Acabal announced this to the cooperative’s member-consumers here during a Kapihan Forum on Jan. 24, 2020. 

Based on the 2018 Electric Cooperative (EC) Overall Performance Assessment which was updated as of September 2019, NORECO-I garnered a total score of 98.32 in NEA’s evaluation in 2018 and 95.25 score in 2017.

Both scores constitute to a triple ‘A’ rating.

NORECO-I is evaluated under two criteria which are Key Performance Standards (KPS) and the EC Classification.

KPS has four major parameters, namely: financial, technical, institutional, and reportorial requirements.

The EC classification assesses the cooperative’s financial condition and operational performance through six parameters, namely: general cash fund, collection efficiency, payment to generation companies and the National Grid Corporation of the Philippines (NGCP), net worth, and systems loss.

NEA has granted NORECO-I a triple ‘A’ status for three consecutive years.

Acabal acknowledged the cooperation of all member-consumers of the cooperative which contributed to this achievement.

Nagpasalamat mi kaninyo kay ang atong collection efficiency taas (at) 97 tungod kay daghan man ang nibayad. Daghan man ang nitabang sa NORECO pinaagi sa inyong pagbayad sa wala pang due dates. Kanang inyong gibayad amo pang ibayad didto sa atong power supplier (We would like to thank you all because our collection efficiency is high at 97. This is because a lot of you pay before the due date. You were a great help to NORECO. The money you paid will be used to pay our power suppliers),” Acabal said. 

The NORECO-I general manager also cited that power bills might also go down with the decrease in the EC’s systems loss rate now pegged at 10 percent.

Ang systems loss ni-us-us na ug maayo so magka-gamay na ang charge ninyo. Ang systems loss nato 10. 60 (percent) na lang as of December 31, 2019  (The systems loss rate have decreased to 10.600 percent as of Dec. 31, 2019. This means systems loss charge might also go down on your end),” Acabal disclosed.

Meanwhile, NORECO-I Board of Director (BOD) President Alfonso Tadiffa explained the ‘AAA’ rating does not translate to additional monetary incentives from NEA but it will enable the EC to enhance its services to its member-consumers and grant additional benefits to its employees.

Kini siya mahimong model coop kita. Ang benefits nato makuha mao ning para sa mga empleyado. Makapataas pod ta ug rate sa ilang sweldo. Ikaduha, ang atong serbisyo sa katawhan sa coverage area ma-enhance gyud (This makes us a model cooperative. The benefits we may get with this is that perhaps we can increase the rate of the employees of the cooperative and further enhance our services to the public),” Tadiffa said. (ral/PIA7-Negros Oriental)

News Feed:
Latest News | Philippine Information Agency