Razon's Primelectric to replicate Negros Power feats in SOCOTECO II bid

Razon-led Primelectric on Tuesday said it is planning to replicate its track record with Central Negros Electric Cooperative (CENECO) for its proposed partnership with South Cotabato II Electric Cooperative (SOCOTECO II).

Primelectric, through Ignite Power – a partnership with Manny Pacquiao’s MP Holdings – is proposing to forge a joint venture deal with SOCOTECO II.

In a news release, Primelectric noted that in 16 months since it formed joint venture firm Negros Electric and Power Corporation with CENECO, it has reduced system losses from 12% to 6%, with unscheduled power outages also dropping by 60% and average interruption duration falling by 90%.

The CENECO, it said, also maintained the lowest electricity rate in the region.

Primelectric said the gains followed a capital injection of over P2 billion for the rehabilitation of aging power distribution infrastructure, which formed part of its five-year development plan for CENECO’s service area covering the cities of Bacolod, Silay, Bago, and Talisay, plus the municipalities of Murcia and Don Salvador Benedicto.

It said Negros Power holds a 25-year franchise to operate as a distribution utility across the said areas – the third-largest electric cooperative footprint in the Philippines.

“Through Ignite Power, Primelectric is seeking to replicate the CENECO model through a proposed joint venture with SOCOTECO II, which serves consumers across SoCSarGen – parts of South Cotabato, Sarangani, and General Santos City,” it said.

“Ignite says the same playbook – infrastructure investment, system modernization, and operational efficiency – can deliver comparable improvements for SOCOTECO II consumers, who currently experience reliability challenges similar to those CENECO faced before the partnership began,” Primelectric added. — JMA, GMA News