17 electric coops register better performance in 2022

MANILA, Philippines — A total of 17 electric cooperatives (ECs) have shown improvement in their overall performance last year, while seven ECs retrogressed, according to the National Electrification Administration (NEA).

NEA’s 2022 EC overall performance assessment showed that 93 of the 121 ECs nationwide achieved AAA rating, of which 31 attained a perfect score of 100 percent.

The AAA rating is the highest score given by the NEA to ECs that indicates the power distribution utilities’ full compliance on all parameters, with the D rating being the lowest.

NEA said 17 ECs have improved their performance level across all parameters.

“The ECs have faced numerous challenges the past year due to the ongoing threat of the pandemic and the Russia-Ukraine conflict, both of which have significantly impacted the global economy,” NEA administrator Antonio Mariano Almeda said.

“Despite these, the ECs have truly demonstrated exceptional performance for calendar year 2022, earning remarkable ratings,” he said.

NEA, in particular, lauded Region IV-A for achieving an outstanding performance, with all ECs receiving an AAA rating for the first time.

It also commended Regions Ill, VII, VIII, and CARAGA for sustaining exemplary performance, with all their ECs rated as AAA for 2022.

On top of the 17 ECs which have shown improvement, NEA said 97 have retained their category level, while seven ECs retrogressed.

NEA said among the previously categorized ailing ECs, six out of seven maintained their category level from 2021 to 2022.

In terms of size classification, meanwhile, the number of mega large ECs has increased from 79 to 82, with three extra large ECs transitioning to the mega large category.

NEA’s overall classification comprises 19 extra large ECs, 14 large ECs, two medium ECs, and four small ECs.

NEA said results of the 2022 EC overall performance assessment and size classification will serve as the basis for the implementation of upward and downward adjustments in benefits, allowances, and incentives for EC officials and employees.