SOLECO gives away P 10 million patronage credit to consumers

By Marcelo M. Pedalino

Thursday 12th of July 2012

MAASIN CITY, Southern Leyte, July 12(PIA) -- The Southern Leyte Electric Cooperative (SOLECO) will be distributing patronage credit certificates to its more than 60,000 consumers, both individuals and institutions, throughout the 500 barangays all over the province.

According to former officer-in-charge Archie Salazar, the patronage credit -- known as patronage refund by credit cooperatives -- amounts to P10 million, but this will be given in two phases: P5 million this year, and another P5 million in the first quarter of 2013.

Salazar provided a hint on this piece of good news for its power users during the closing minutes of the cable TV “Action Center” Kapihan sa PIA program last week, in which he disclosed that the bonanza will be given in the form of patronage credit certificates.

The certificates will be charged to the power consumption of consumers beginning the August bill.

If a certain individual or institution has a power bill, of say, P 1,000 for the month of August 2012, and the patronage credit certificate received was P 500 then he or she will only pay the other P 500 upon presentation of the said certificate, Salazar explained.

The patronage credit was based on the electricity consumed over the past five years, from 2006 up to 2010, Salazar added.

In a follow-up call yesterday morning, Salazar said the amount of patronage credit due per user was computed by summing the monthly bills on record for five years divided by the revenues for five years, multiplied by the approved fund release of P5 million this year, another P5 million next year.

This developed as the SOLECO board passed Resolution number 78-2012 on April 20, 2012, requesting the National Electrification Administration (NEA) to grant the P10 million patronage credit on a staggered basis, and NEA interposed no objection to the move, Salazar said.

“Out of the 11 electric cooperatives in Region 8, SOLECO was the very first to extend the patronage credit to its power consumers,” he added.

Field personnel of SOLECO had began distributing the certificates to 40 barangays of Maasin City, and the barangays in other towns will follow, Salazar also said. (PIA 8, Southern Leyte)