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Manila Bulletin devider Philippines devider National devider Marcos OKs Leyte electric cooperative's franchise bid

Marcos OKs Leyte electric cooperative's franchise bid

Published Aug 14, 2024 03:56 am

President Marcos has approved the franchise bid of Leyte II Electric Cooperative (LEYECO II).

BBM PSAC meeting.jpg
President Ferdinand R. Marcos Jr. presides over the Private Sector Advisory Council (PSAC) meeting on Agriculture Recommendations at Malacañan Palace on Aug. 13, 2024. (Noel B. Pabalate)

The move is aimed at ensuring the power supply in parts of Leyte, Malacañang said.

Republic Act 12017, signed on Aug. 9, 2024, grants LEYECO II the franchise and allows them “to construct, install, establish, operate, own, manage and maintain in the public interest and for commercial purposes, a distribution system for the conveyance of electric power to the end-users in the City of Tacloban and Municipalities of Babatngon and Palo, Province of Leyte.”

In 2022, LEYECO II was recognized by the National Electrification Administration (NEA) as one of the most outstanding electric cooperatives in the country.

The award was attributed to the “AAA” rating the cooperative received in the 2021 overall performance assessment and the successful implementation of its mandate on rural electrification program.

The cooperative is also one of the power groups offering the lowest power rates in the region.

Related Tags

Power supply President Marcos Leyte LEYECO II
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