VECO’s underground project starts

CEBU, Philippines - The Osmeña Boulevard Underground Distribution System Project of the Visayan Electric Company (VECO) is expected to be finished by June of this year after the one kilometer stretch project has started.

Sebastian Lacson, VECO Senior Vice-President and Chief Operating Officer, said that the project stretches from Capitol down to Fuente Osmeña (Phase I) amounting to around P50 million.

Lacson said that they plan to expand the project within the Sinulog route or in areas where tourists usually visit.

Earlier, the Beautiful Cebu Movement Foundation Incorporated has endorsed this project as it compliment the Osmena Boulevard Restoration and Beautification Project according to its chairperson, Mariquita Salimbangon-Yeung.

BCMFI has lauded VECO for such admirable project which further beautifies the area and making it a world class alley.

Meanwhile, VECO has conducted a "Power Seminar 202" for selected media practitioners in Cebu yesterday.

Theresa Gonzales, VECO Corporate Communication Department manager, said that they want the media to know the basics of the power industry.

"So they (media) may be able to relay power stories to the public in a way that is 'relatable' to the public. If media understands the workings of our industry, they will be able to report more simply and accurately," Gonzales said.

During the seminar, VECO's department heads talks about the sources of its power, their new meter system, their billing system, open access and retail competition, among others.

Ricardo Lacson, vice-president for Customer Services, noted that VECO's per customer consumer in Cebu has been growing due to the increase of power usage and the number industrial customers within their franchise area.

He said that retail competition in the power sector has began last June 26, 2013 in Luzon and Visayas which gives customers the power to choose to whom they shall get or source their electricity.

Bong Saniel, head of the Billing and Collection Department, also explained the details their customer's monthly bill wherein he said, only 26.67 percent of the entire bill being collected goes back to VECO.

The biggest share of the bill which is 62.09 percent goes to generation charges (which will be paid to VECO's various power sources), 0.98 percent goes back to the customers and 10.26 percent goes to the government.

Lyndon Jayme, assistant vice-president for Utility and Economics Department, said that VECO sources its power from Green Core Geothermal Inc., Cebu Energy Development Corporation, Cebu Private Power Corporation, Power Sector Assets and Liabilities and the Wholesale Electricity Spot Market.- (FREEMAN)