The National Electrification Administration (NEA) has sternly cautioned the country’s 121 electric cooperatives (ECs) not to be tempted on exploiting the retirement fund of their employees or in utilizing them as convenient piggy bank ready for embezzlement.

NEA Administrator Antonio Mariano Almeda thus summoned up the ECs on their compliance to the mandated “submission of Board Resolutions on their employees’ retirement funds,” as prescribed under the memorandums recently issued by the electrification agency.

In upholding the fiduciary responsibilities of the power utilities on safeguarding the retirement fund of their employees, the NEA chief reiterated his warning “against practices which result in the improper use of such funds.”

According to NEA, the directive on prudent management of retirement funds came about because of a recent “anomalous depletion” of the retirement fund of an electric cooperative in Nueva Ecija, that in turn had jeopardized its employees’ hope for a nest egg that they can lean on when they would already reach retirement age.

The electrification agency similarly apprised the ECs on the partnership cemented by NEA with the Department of Labor and Employment (DOLE) on provision of assistance to ECs on the establishment of employees’ unions as well as on the negotiation of collective bargaining agreements (CBAs).

The discussion on the retirement fund and other employee-related concerns had been part of the agenda in a summit that was organized by NEA early this month.

That particular event was convened primarily to champion the ‘sharing of best practices’ among ECs – not only on the realm of electrification projects; but also on reinforcing the reliability and efficiency of their distribution networks that must then redound to the benefit of consumers they have been servicing.

Beyond fiscal discipline that the ECs must heed, other concerns discussed during the summit had been those on: fluctuating voltage in the technical systems of the electric cooperatives; targeted rollout of advanced metering infrastructure (AMI); plus more efficient operations of the supervisory control and data acquisition (SCADA) system of the power utilities.

Similarly, loan facilities that could be extended to the ECs were fleshed out; and there were also exchange of views on the enhanced integrated computerized planning model (e-ICPM); as well as on the timing of bidding activities to be carried out by the ECs.

“The NEA reminded all ECs to abide by the prescribed timelines to complete their respective bidding activities, as well as to continuously monitor and update their lists of blacklisted or non-performing contractors/suppliers,” the electrification agency emphasized.

On the advancement of electrification projects, Almeda told ECs that “if you see a sitio that needs to be electrified, then connect it, invest in it” – that way, they can valuably help NEA in attaining the government’s 100% energization target as mandated by President Marcos.

Additionally, the NEA chief specified that ECs must “maintain the flow of investments on reliable power facilities,” and squarely address the fluctuating and low power voltage dilemmas being experienced by some utilities.