AboitizPower eyeing deals with other electric coops

CEBU, Philippines - Aside from its interest to take over the cash-strapped Zamboanga City Electric Cooperative Inc., (Zamcelco), Aboitiz Power Distribution Utility is also on the lookout for investment management contract (IMC) deals with other electric cooperatives in the Philippines.

Jaime Jose Y. Aboitiz, Aboitiz Power, chief operating officer of Power Distribution Group, said that the company has maintained its interest to turn-around some electric cooperative companies that are not doing well, in order for Aboitiz Power to inject its expertise in electric distribution management.

However, as of this point, Aboitiz said there are only few electric cooperatives that have expressed interest to offer their companies for IMC.

Apparently, most electric cooperatives, like those in the Visayas are doing well. Unlike Zamcelco, which has already tapped a third-party consultant to help improve its operations and financial standing.

Aboitiz Power, which owns Visayan Electric Company (VECO) and Davao Light and Power Co., announced this move to partner with electric cooperatives in a bid to improve the quality of services among electric consumers around the country.

Aboitiz said electric consumers now demand for efficient customer service from distribution utilities as most of these have outdated systems.

"Consumers now are expecting a lot in terms of customer service for the electricity bill they are paying. Today, having a brownout becomes inexcusable," said Aboitiz.

Aboitiz Power's distribution arm is serving over a million electric consumers in the country, making them the second largest electric distribution utility company in the Philippines, next to Meralco. (FREEMAN)