Bacolod City – A resolution inquiring Negros Electric and Power Corporation (NEPC), through its president and CEO Roel Castro, on why it is collecting a reinvestment fund for sustainable capital expenditures (RFSC) from its consumers, was approved by the Bacolod Sangguniang Panlungsod recently.
The resolution authored by Councilor Wilson Gamboa Jr., chair of the SP Committee on Human Rights, said energy, while essential for modern life, has significant human rights implications, particularly in relation to access, affordability, and environmental impact.
Electric cooperatives (EC’s) were authorized by the Energy Regulatory Board to collect member’s contribution for capital expenditures, or the Reinvestment Fund for Sustainable Capital Expenditures (RFSC), from its member consumers in compliance with ERC Resolution No. 20 series of 2009. The RFSC is envisioned to find the amortization of debt service of EC’s indebtedness associated with the expansion, rehabilitation or upgrading of the existing power system of the EC’s in accordance with the ERC approved capital expenditure (CAPEX) plan, it said.
Negros Electric and Power Corporation (NEPC) is a private stock corporation organized and registered with the Securities and Exchange Commission, the resolution said.
NEPC has been collecting the RFSC at 0.1518 per kWh from electric consumers, as indicated in the billings, it said.
NEPC should provide a response to the inquiry within 10 days from receipt of the resolution, the resolution added. (Gilbert Bayoran via tdg photo by tdg)