President Ferdinand Marcos Jr. has signed into law Republic Act No. (RA) 12011, granting a franchise to Negros Electric and Power Corp. (NEPC).
The new law enables Enrique Razon-led NEPC to establish, operate, and maintain a new distribution utility in Central Negros for 25 years.
The franchise is specifically intended to serve the cities of Bacolod, Silay, Talisay, and Bago, and the towns of Murcia and Don Salvador Benedicto, all in the province of Negros Occidental, RA 12011 stated.
The House of Representatives passed House Bill No. 9805 on February 21, 2024, which was then amended by the Senate on May 20, 2024.
Marcos Jr. signed RA 12011 last July 26.
NEPC, also known as Negros Power, is a joint venture company between Primelectric Holdings Inc. (PHI) and Central Negros Electric Cooperative (CENECO).
Roel Castro, Negros Power president and chief executive officer (CEO), expressed gratitude to the President, legislators, consumers, and local leaders in Central Negros for their support.
“We are grateful that our leaders and everyone are supporting this initiative to improve electric service for consumers. We now have the law, it’s time to walk the talk, and we are ready to serve and fulfill our promises to the consumers of Central Negros,” he said.
Negros Power allocated an initial capital of P2 billion for a five-year plan to rehabilitate and modernize the electric infrastructure, aiming to establish a robust distribution system.
“We seek your continued support and cooperation as we commence the five-year journey of continuous rehabilitation to enhance the system and minimize instances of unscheduled power interruptions.” Castro said.
Negros Power will then apply for a Certificate of Public Convenience and Necessity (CPCN) from the Energy Regulatory Commission (ERC) to commence official operations.IMT
