Abra power consumers assail collection of fees

By Maritess B. Beñas

BANGUED, Abra - - Power consumers of the Abra Electric Cooperative (ABRECO) assailed collection of share capital from its members in the latest billing issued for this month.

Complainants said these could be used like to pay unpaid loans of the cooperative to the National Electrification Administration.

But ABRECO management led by it general manager Loreto P. Seares Jr., said the share capital was an obligation of every cooperative member as mandated in the policies and guidelines of the Cooperative Development Authority which governs the cooperative.

The general membership of ABRECO through its annual general assembly meeting in 2007, had decided and chose to register with the CDA as a real cooperative for the members to enjoy the benefits of a cooperative and not just maintain its original status of a mere distribution utility of the NEA.

ABRECO has an authorized capital of P200 million. As per CDA policy, the subscribed capital is 25% of the authorized capital which is computed at P50 million.

This is the minimum amount which the general membership is going to raise in the form of share capital with the minimum of P1,500.00 per member.

However, the collection had not been pursued because of the transition period as prescribed by the CDA.

The collection of the share capital from the members is on a staggered basis of P100.00 per month which is integrated in the monthly billing starting September 2011.

Relative to the question on how the share capital will be used, ABRECO said that it will be the general assembly who will decide later where to invest said funds. But they clarified that the share capital will not be used for loans repayment.

ABRECO explained the share capital gives identity to ABRECO as a real cooperative under the CDA.

And once the share capital is fully paid by the individual member, a Certificate of Membership will be given as a proof of membership