The proverbial “sword of Damocles” hangs over the lifeline of another electric cooperative in Bicol. This time, it is the Camarines Sur II electric cooperative (CAURECO II).
Casureco II recently received the notice of disconnection from the Philippine Electricity Market Corporation (PEMC) that could be effected on Wednesday, January 15. The coop needs to pay an outstanding power bill deposit of P89 million.
Earlier, on the first week of January the cooperative averted power disconnection from another supplier, the Wholesale Electricity Spot Market (WESM), but it was able to settle the unpaid bill amounting to P212 million.
On top of these, the cooperative still has an outstanding bill of P187 million, also from WESM, which is being managed by PEMC.
The electric cooperative serves consumers in Naga city, Pili, Milaor, Minalabac, Canaman, Magarao, Bombon, Calabanga, Tinambac and Siruma.