In a memorandum dated 14 February 2023, the National Electrification Administration (NEA) reminded the electric cooperatives (ECs) to submit their reportorial requirements for the EC Overall Performance Assessment.

 

Pursuant to the mandate under Republic Act No. 9136 and Republic Act No. 10531, the assessment of the overall performance of electric cooperatives shall commence on 28 February 2023, which is the last day for the submission of the requirements.

 

Reports that are submitted beyond the said commencement period shall no longer be accepted and considered by the Committee on EC Overall Performance Assessment.

 

The EC Overall Performance Assessment intends to measure the financial, institutional and technical performance of electric cooperatives nationwide, hence determining creditworthiness, level of development, protection, empowerment and satisfaction of the member-consumer-owners (MCOs).

 

It also aims to promote accountability and responsibility in ECs’ compliances and fiduciary obligations while serving also as a basis for crafting performance incentive mechanisms for the ECs.

 

Last 02 February 2023, NEA Administrator Antonio Mariano Almeda announced his plan to amend EC Categorization giving emphasis to sound financial management and good housekeeping.