(The Philippine Star) | Updated June 3, 2017 - 12:00am
MANILA, Philippines - After cutting power service in Masbate, DMCI Power Corp. has restored electricity supply as the provincial electric cooperative negotiates to settle its P240-million overdue obligation.
In a statement, DMCI Masbate Power Corp. (DMPC) said it has temporarily restored its power supply to Masbate Electric Cooperative (Maselco).
Both parties are set to start discussions on Maselco’s firm and acceptable commitment to settle its overdue obligations to DMPC, as well as the upgrading of Maselco’s distribution system to ensure reliability of the power supply to its customers.
The electric cooperative has a P240-million financial obligation which is already 90 days overdue, DPC president Nestor Dadivas said in a text message.
To resolve the reconnection of power service, National Electrification Administration (NEA) administrator Edgardo Masongsong said the state-run firm will immediately take over Maselco’s management.
Meanwhile, DMPC has been negotiating with its creditors and suppliers for cooperation and support to ensure temporary supply of electricity to Maselco.
“We appreciate the assistance of (Masbate) Gov. Antonio Kho, the Department of Energy, NEA and other local government units, all of whom have assured us that the necessary reforms to resolve the issues will be implemented,” it said.
Last Tuesday, the power firm discontinued its service to Maselco due to the continued non-settlement of the latter’s overdue obligation in the total amount of P240 million.
“Despite our repeated requests for payment and demand letters, we have yet to receive any reasonable and acceptable commitment from Maselco to promptly and fairly settle this matter,” the Consunji firm said.