MANILA, Philippines - Nearly half of electric cooperatives (ECs) operating in the country were given the highest ratings in terms of performance standards, the National Electrification Administration (NEA) said.
In a statement, NEA said it has rated 54 ECs as AAA based on two rating criteria, namely Key Performance Standards (80 percent) and Electric Cooperatives Classification (20 percent).
The KPS cover 32 financial, institutional, technical and reportorial compliances indicators and standards while EC Classification covers seven financially-driven standards and parameters including accounts payables to the National Grid Corp. of the Philippines (NGCP).
Of the 54 ECs rated AAA, 19 scored 100 points. These are Tarelco II, Neeco I, Neeco II-Area 1, Neeco II- Area 2, Pelco I, Penelco, Ormeco, Ileco I, Ileco II, Cebeco I, Cebeco II, Cebeco III, Zamsureco I, Dasureco, Socoteco II, Aselco, Siarelco, Dielco, and Surseco I.
All seven ECs in the Caraga Region attained an AAA rating.
Meanwhile, 14 ECs were rated AA; four rated A; 13 rated B; 13 rated C; and 10 rated D.
The performance rating of the ECs may serve as basis for entitlements to prescribed NEA Guidelines on Benefits, Allowances and Incentives of EC Officials and Employees, effective Aug. 1, 2015.
NEA Administrator Edita S. Bueno noted ECs registered with the Cooperative Development Authority (CDA) are not included in the evaluation and determination of overall performance ratings of ECs for 2014.
“[This is] to give them ample time to be fully integrated into the mainstream of ECs,” she said.
On the other hand, those that entered in a Private-Sector Participation, namely Albay Electric Cooperative Inc. (Aleco) and Pampanga II Electric Cooperative Inc. (Pelco I) were also excluded “to give concessionaire of Aleco and investor-manager of Pelco II an interim period within which to revitalize their respective operations,” Bueno added.
NEA formulated KPS pursuant to Republic Act 9136 to measure financial, institutional and technical (FIT) performance indicators and standards, which was implemented under Memorandum No. 2014-020 to the ECs dated Aug. 31, 2011.
In response to RA 10531, NEA also formulated six financial and operational standards and parameters to assess the performance of the ECs.