“The role of electric cooperatives (ECs) in economic and social development in the country is important especially when rural electrification was economically unviable for private corporation.”

This was stressed by Iloilo Electric Cooperative (ILECO III) general manager James Balsomo during their Annual General Membership Assembly (AGMA) in Sara, Iloilo.

The event was attended by members-consumers-owners. It was also was graced by Iloilo Fifth District Representative Raul “Boboy” Tupas, Board Member Binky Tupas and APEC Partylist Representative Sergio Dagooc who served as guest speaker.

According to Balsomo, AGMA is the most important activity for electric cooperatives every year as it is the time that their member-consumer-owners come together to listen to the report of the board of directors and the management team on the real state of affairs and status of the cooperative.

“They also decide measures that require the approval of the assembly- being the highest policy making body of the cooperative under the Constitution and By-Laws of the cooperative” he added.

In his message, Dagooc explained the nature of the power industry and how the Russia-Ukraine War affected the cost of power.

“The countryside, private corporation wanted to take over the area under EC because they can have profits. ECs focused on services without consideration to profits while private corporation are focused only on profit. ECs Board are chosen by Consumer- Owners and are accountable to while Private Corporations Board of Directors are chosen by whoever owns the stocks of the corporation and accountable only to him and not to ordinary consumers,” he said.

He claimed that the performance of ILECO III, which has been named as the Best Performing Electric Cooperative in the country, is far better than private distribution utilities.

Meanwhile, Board Member Tupas noted that ILECO III has the lowest system’s loss and power rates in Western Visayas, reflecting the extraordinary efforts of the leadership and management of the electric cooperative.

She also appealed to her fellow member-consumer-owners to cooperate and support ILECO III even by simple means of reporting the incidence of pilferage.

Balsomo assured that they are doing their best to further reform the institutional and the operational aspects of the cooperative.

“The members-consumers-owners expressed their solid support and confidence on the direction that the coop is taking right now,” he said.IMT