TAGUM CITY, Davao del Norte—The only electric cooperative in the country troubled by rival owners finally posted a record collection reaching almost half-a-billion pesos in May, but the National Electric Administration (NEA) said the cooperative would still go a long way to clean its financial obligation of P2.1 billion to power suppliers.
The indebtedness was largely accumulated in the four years, from 2012 to 2016, that the Davao Electric Cooperative was divided between the NEA and the Cooperative Development Authority, which assumed operation and collections of electric bills beginning in 2012, when the then Daneco board of directors opted to attach to the CDA for mentoring and actual operation.
Mario Angelo M. Sotto, the NEA supervisor for Daneco, told the second Executive Session of Davao del Norte and Compostela Valley clients, mayors, governors and other stakeholders that Daneco showed remarkable collection trend beginning this year.
In January collections reached 95 percent (P367.05 million), but slipped to 78 percent (P299.36 million) in February, and went back up to 87 percent (P339.52 million) in March, to 96 percent (P343.93 million) in April and to the record 98 percent (P414.72 million) in May.
NEA Administrator Edgardo R. Masongsong said a full collection from all its more-than 200,000 electric consumers could reach more than P500,000.
Even with the Supreme Court final decision putting back Daneco to the authority of NEA has not deterred some electric consumers to continue paying to the CDA collection centers, the NEA and the Department of Energy has confirmed in the executive session here on Tuesday.