BACOLOD City – The Negros Electric and Power Corporation (Negros Power), the power distribution utility in Central Negros Occidental, has vowed to address concerns raised over its continued collection of the Reinvestment Fund for Sustainable Capital (RFSC) from consumers.
This comes after the Sangguniang Panlungsod (SP), during its regular session on July 9, approved a resolution authored by Councilor Wilson Gamboa Jr. requesting an immediate explanation from Roel Castro, president and chief executive officer (CEO) of Negros Power, on the inclusion of RFSC charges in monthly electricity billings.
The RFSC was established under Energy Regulatory Commission (ERC) Resolution No. 20, Series of 2009, which allows electric cooperatives (ECs) to collect capital contributions from member-consumers. These funds are intended to amortize or pay off loans used for the expansion, rehabilitation, or upgrading of electric power systems under an ERC-approved Capital Expenditure (CAPEX) plan.
However, Gamboa emphasized that Negros Power is not an electric cooperative but a private stock corporation registered with the Securities and Exchange Commission (SEC). This distinction, he argued, raises legal and ethical concerns about the continued imposition of the RFSC charge of P0.1518 per kilowatt-hour (kWh) in consumer billings.
The resolution pointed out that under the ERC guidelines, the RFSC is an item authorized exclusively for electric cooperatives, and therefore its application by a private entity like Negros Power may be questionable.
In response, Castro said, “We received the official copy of the resolution. Negros Power will address the issues raised by Councilor Gamboa at the right and appropriate time.”
He also assured the public that Negros Power’s rates remain compliant with the Certificate of Public Convenience and Necessity issued by the ERC, and all relevant regulatory rules and laws./PN
