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Manila Bulletin devider Business devider Trade & Industry devider Primelectric eyes second cooperative deal after Negros turnaround

Primelectric eyes second cooperative deal after Negros turnaround

Published May 5, 2026 01:01 pm
Primelectric Holdings Inc. is seeking to export its infrastructure rehabilitation model to South Cotabato, aiming to replicate the operational turnaround it achieved in Negros Occidental through a proposed partnership with South Cotabato II Electric Cooperative Inc. (Socoteco II).
In a statement, Primelectric said the company, the majority shareholder of Ignite Power, plans to use its recent joint venture with Central Negros Electric Cooperative as a blueprint for improving power reliability in the SocSargen region.
Within 16 months of forming Negros Electric and Power Corp., Primelectric reported that system losses were reduced to six percent from 12 percent, while unscheduled power outages declined by 60 percent.
The Bacolod-based venture also saw the average duration of power interruptions fall by 90 percent, all while maintaining the lowest electricity rates in the region, according to company data.
These operational gains were supported by an initial capital injection of more than ₱2 billion intended to modernize aging distribution assets. The investment is part of a broader five-year development plan covering the cities of Bacolod, Silay, Bago, and Talisay, alongside the municipalities of Murcia and Don Salvador Benedicto.
Negros Power currently operates under a 25-year franchise, managing the third-largest electric cooperative footprint in the Philippines.
Primelectric said the Negros experience serves as a proof of concept for how private sector capital and technical expertise can stabilize struggling cooperatives without burdening consumers with higher costs.
The proposed expansion into Socoteco II’s service area would cover General Santos City and key parts of South Cotabato and Sarangani.
Ignite Power indicated that it intends to apply the same strategy of aggressive infrastructure investment and system digitization to address the reliability issues currently facing Socoteco II members.
The move comes as the Philippine energy sector faces increasing pressure to modernize rural distribution networks that have long suffered from underinvestment and high technical losses.
By leveraging the joint venture model, Primelectric said it aims to bypass the traditional funding constraints of electric cooperatives, utilizing private equity to fund the ₱2 billion-plus requirements for grid modernization.

Related Tags

Primelectric Holdings Inc. South Cotabato II Electric Cooperative Inc. Socoteco II Primelectric
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