CENECO Bill Deposit Refund: What You Need to Know
Attention all valued Central Negros Electric Cooperative (CENECO) customers!
If you’ve been consistently paying your electric bills on time for the past three years, we have fantastic news for you – you can claim your CENECO bill deposit refund! This is a consumer right that many of us might not be aware of, but it’s time to take advantage of it.
Understanding Bill Deposits and Your Refund Eligibility
When you applied for electricity service from CENECO, you probably paid a bill deposit as a security payment to ensure timely bill payments. If you’ve been a diligent payer and have a spotless record of on-time payments with no disconnections for three consecutive years, you’re eligible for a refund of your bill deposit. Yes, that money rightfully belongs to you – not the utility company!
Read more about Bill Refunds : https://businessmirror.com.ph/2023/06/22/power-bill-deposit-refunds/
Power Watch Negros: Championing Consumer Rights
Thanks to the efforts of Power Watch Negros, a leading consumer advocacy group spearheaded by Secretary-General Wennie Sancho, you now have a champion to help you claim your bill deposit refund. Power Watch Negros has sent a letter and requested certification from CENECO’s Finance Department to confirm the status and amount of restricted funds, including bill deposits.
Why You Should Act Promptly
CENECO is currently facing financial struggles, with significant borrowings and debts. The restricted funds, including bill deposits, have been utilized to cover losses, leaving the utility with limited resources.
Check out the breakdown of CENECO’s borrowings:
CENECO’S DEBTS:
- NEA Loans: P62,897,773.65
- BANKS: P181,029,022.27
RESTRICTED FUNDS:
- Bill Deposit: P277,489,144.98
- Retirement Fund: P37,708,449.91
- KSPC Bond: P54,000,000.00
TOTAL: P613,124,390.81
There may be better choices than waiting for CENECO to fulfill its obligations. You have to act now and claim your refund to secure what is rightfully yours.
Learning from Iloilo’s MORE Electric and Power Corp.
Take inspiration from MORE Electric and Power Corp. in Iloilo City, which has already started refunding bill deposits to its customers. Under the leadership of President and CEO Roel Castro, the company has allocated a budget of P4 million for bill deposit refunds. Several customers have already received their refunds, and more are set to get theirs soon. This commitment to promptly refund consumers demonstrates adherence to the Magna Carta for Residential Electric Consumers and ensures that eligible customers receive their refunds as stipulated by the law.
Iloilo’s MORE Power news about Bill Deposit refund: https://newsinfo.inquirer.net/1800590/more-power-begins-2nd-round-of-deposit-refunds-to-consumers-in-iloilo-city
A Bright Future with Joint Venture Agreement (JVA)
The Joint Venture Agreement (JVA) offers hope for CENECO subscribers! It provides a potential solution to streamline the process of claiming bill deposit refunds. Once the venture named NEGROS Power is finalized, Primelectric will take over CENECO’s distribution assets, valued at PHP 1.7 billion. This fresh cash infusion can promptly fulfill CENECO’s responsibility of refunding consumers’ bill deposits.
Empower Your Consumer Rights Today, Claim Your Bill Deposit Refund Now!
As an electricity consumer with CENECO, you can claim your bill deposit refund if you’ve been consistently paying your electric bills on time for the past three years. Don’t let this opportunity slip away. Power Watch Negros and MORE Electric and Power Corp. have set an example, showing the importance of promptly claiming these refunds.
Now is the time to unite and ensure that we, the consumers receive what is rightfully ours. Empower your consumer rights by claiming your CENECO bill deposit refund today!
Let’s unite to ensure that consumers receive whatever is due to them. It’s your money, and you deserve it back in your pocket.
More articles about CENECO’s JVA with Primelectric:
CENECO-Primelectric JVA: Answers to Frequently Asked Questions
Yes to JVA: Why Bacolod needs Primelectric-NEPC (Negros Power)?
How Primelectric-NEPC Can Bring “MORE Power” to Bacolod City
