85 electric co-ops get highest rating in 2019 performance assessment
The National Electrification Administration (NEA) announced that 85 out of 121 electric cooperatives (ECs) in the country earned the highest rating of AAA in the 2019 EC Overall Performance Assessment.
Of the 85 ECs that obtained the AAA rating, 30 ECs garnered a score of 100 points in all the performance parameters. All ECs in Regions I (Ilocos Region), VI (Western Visayas), VIII (Eastern Visayas), and Caraga notched the AAA status, maintaining their excellent performance.
Results of the 2019 overall performance assessment also showed that 85 percent or 103 ECs were evaluated by the NEA as either AAA, AA, or A status. At least 11 ECs improved in their scores in all performance levels.
The ECs that showed improvement in ratings included Lanao del Norte Electric Cooperative, Inc. (LANECO), Sorsogon I Electric Cooperative, Inc. (SORECO I), Pampanga III Electric Cooperative, Inc. (PELCO III), Nueva Vizcaya Electric Cooperative (NUVELCO), Misamis Occidental I Electric Cooperative, Inc. (MOELCI I), Camarines Sur III Electric Cooperative, Inc. (CASURECO III), Quezon I Electric Cooperative, Inc. (QUEZELCO I), Occidental Mindoro Electric Cooperative, Inc. (OMECO), Davao del Norte Electric Cooperative, Inc. (DANECO), Abra Electric Cooperative (ABRECO), and Zamboanga City Electric Cooperative, Inc. (ZAMCELCO).
Meanwhile, among the seven remaining 'ailing' ECs, ABRECO progressed from Category D to C, while Masbate Electric Cooperative, Inc. (MASELCO) and Sulu Electric Cooperative, Inc. (SULECO) maintained their Category C status. The other four, namely Albay Electric Cooperative, Inc. (ALECO), Basilan Electric Cooperative, Inc. (BASELCO), Lanao del Sur Electric Cooperative, Inc. (LASURECO), and Tawi-Tawi Electric Cooperative, Inc. (TAWELCO), remained as Category D power co-ops.
NEA evaluates and determines the overall performance ratings of all ECs annually. In 2019, the state-run agency amended the guidelines on the EC Overall Performance Assessment. The new set of parameters are the following: financial (25 points), institutional (30 points), technical (20 points), level of electrification (20 points), and reportorial compliance (5 points).
The AAA rating is the highest score given by the NEA to ECs that indicates the power distribution utilities' full compliance on all parameters. The D rating is the lowest.
NEA Administrator Edgardo Masongsong welcomed the results of last year's EC Overall Performance Assessment, while he congratulated those power co-ops that attained AAA rating.
"ECs that need further improvements in the overall performance should reassess their financial, institutional, and technical operations; implement more aggressive strategies and activities, and closely monitor their progress to address major issues and concerns," Masongsong said.
On the Size Classification of ECs, the number of Mega Large ECs increased from 66 to 72 while the number of Extra Large ECs decreased from 32 to 26. The number of ECs classified as Large remained at 17. At least two ECs were classified as Medium and four ECs as Small.
Further, 6 ECs expanded their power market coverage resulting in the improvement of their size classification from Extra Large to Mega Large, namely Zambales II Electric Cooperative, Inc. (ZAMECO II), OMECO, SORECO I, Iloilo III Electric Cooperative, Inc. (ILECO III), Eastern Samar Electric Cooperative, Inc. (ESAMELCO), and Maguindanao Electric Cooperative, Inc. (MAGELCO).
The results of the 2019 EC Overall Performance Assessment and Size Classification will serve as the basis for the adjustments of salaries, benefits, allowances and incentives of EC officials and employees. ###