JVA with Primelectric/NEPC Gains 91% Votes from CENECO Consumers

CENECO consumers have overwhelmingly voted for the proposed Joint Venture Agreement (JVA) with Primelectric/Negros Power, with 91% voting in favor of the deal.

More CENECO member-consumers participated in the Plebiscite on August 19 and 20 and have approved the proposed Joint Venture Agreement (JVA) with Primelectric/NEPC. Some personally went to the polling precincts, while others voted through proxy.  This is the result of the extensive information campaigns conducted in the past month, which explained to the people the advantages that the JVA would bring, such as improved electricity service and lower electricity prices.

CENECO and the National Electrification Administration (NEA) resumed the Plebiscite on August 19, 20, 26, 27, and September 2 and 3, 2023, after they cleaned up the list of qualified voters. The JVA of CENECO and Primelectric/Negros Power will only proceed if it gets a majority vote from the qualified voters.  

Here are the latest partial results of the Plebiscite from the CENECO JVA Over-All Plebiscite Committee:

Eligible Voters: 177,737

June 24:

• Yes, 13,587 (78% )
• No 3,748 (22%)

June 25:

• Yes, 8,087 (78% )
• No 2,319 (22%)

August 19:

• Yes, 24,641 (99%)
• No 284 (1%)

August 20:

• Yes, 21,247 (99%)
• No 250 (1%)

Total:

Yes, 67,562 (91%)

No 6,601 (9%)

Total votes turn-out: 74,163 (42%)

That is 91% YES and 9% NO of the total turnout.

The Plebiscite will continue until September 3, 2023. The CENECO JVA Over-All Plebiscite Committee will announce the final results after the last day of voting.

The JVA with Primelectric/NEPC is a major milestone for CENECO, as it will allow the cooperative to improve its electricity service and lower its electricity prices. The JVA will also help CENECO invest in new infrastructure and technologies, further improving the quality of service to its consumers.

The JVA has been met with some opposition from consumer groups concerned about the potential for higher electricity prices. However, the CENECO management has assured consumers that the JVA will not lead to higher electricity prices. The results of the Plebiscite will be binding on CENECO, and the cooperative will be required to implement the JVA if most voters approve it.