Solon appeases irate power consumers on share capital

By Maritess B. Beñas

BANGUED, Abra– Rep. Ma. Jocelyn V. Bernos has clarified collection of share capital from general membership of this province’s power firm saying it was legal.

General Manager Loreto P. Seares, Jr. of the Abra Electric Cooperative who earlier was criticized by power consumers said he was thankful to Bernos for her supportive statements.

In her statement over local radio here, Bernos said when she heard about the issued, she immediately consulted Rep. Jose Ping-ay of the Coop NATCO and he explained that the share capital was legal and for the development of the cooperative.”

Text messages from the public over the issue of the share capital flooded
Abreco and the media since it started collecting from power consumers by integrating the same in the monthly bills of the members.

People have raised the same question to the congresswoman regarding the legality of the collection of the share capital, and so her statement during her regular program over the local radio here on Oct. 2.

Seares gave his assurance and commitment to a full disclosure of the accounting of the cooperative funds to be generated out of the contributions from the cooperators in the form of a capital build-up.