The number of electric cooperatives (ECs) that obtained an AAA rating from the National Electrification Administration (NEA) has increased from 70 to 77 in the past year, results of the 2016 EC Overall Performance Assessment show.
NEA evaluates and determines the overall performance ratings of all electric cooperatives under its supervision yearly using the two criteria—Key Performance Standards (KPS) and Electric Cooperatives (EC) Classification.
The AAA rating is the highest score given by NEA to ECs that indicates the power distributors’ full compliance on four parameters: financial, institutional, technical and reportorial requirements.
The 2016 assessment results show that of the 77 ECs rated AAA, 24 ECs garnered a score of 100. These include Iseco, Luelco, Cagelco I, Tarelco II, Neeco I, Neeco II (Area 1), Neeco II (Area 2), Presco, Pelco I, Penelco, Ileco II, Cebeco II, Cebeco III, Prosielco, Boheco I, Boheco II, Leyeco V, Socoteco I, Socoteco II, Aselco, Siarelco, Dielco, Surseco I, and Surseco II.
The results also reveal that 69 ECs maintained their AAA status while eight ECs improved their rating to AAA from either AA, A or B. Among the ECs which showed improvement in ratings are Panelco I, Beneco, Fleco, Romelco, Canoreco, Ceneco, Noceco, and Doreco.
Meanwhile, 10 ECs were rated AA; 10 ECs got an A rating; six ECs with B rating; seven ECs with C rating; and 11 ECs with D rating.
On the Size Classification of ECs, the number of Mega Large increased from 58 to 60. Two Extra Large ECs improved to Mega Large; one from Large to Extra Large; one from Medium to Large; and one from Small to Medium. There are four ECs classified as Medium and four as Small.
In a memorandum dated March 28, NEA Administrator Edgardo Masongsong welcomed the “impressive” results of last year’s overall performance assessment of 121 ECs nationwide.
“The ECs’ performance level for Calendar Year 2016 produced relatively impressive ratings as NEA and the ECs remain as steadfast partners to ensure the sustainability of program implementation and empowerment of member-consumer-owners (MCOs),” he said.
While congratulating those attained AAA rating, Masongsong also encouraged the ECs to “address the eminent demand for lowering power rates and better service to the MCOs and other stakeholders.”
“Those which need further improvements in overall performance should re-assess existing programs and implement more aggressive strategies to address major problems and concerns,” the NEA chief added.
The results of the 2016 EC Overall Performance Assessment and Size Classification will serve as the basis for the upward and downward implementation of per diems and allowances of EC officials and employees, effective April 1, 2017.