Ilocos coop refunds P3 million

By Freddie G. Lazaro

SANTIAGO, Ilocos Sur — The Ilocos Sur Electric Cooperative is set to distribute a P3-million patronage refund to its member-consumers this month, the ISECO board of directors announced Tuesday.

ISECO acting general manager Egdon A. Sabio said the directors, through board resolution 40 series of 2012, approved the granting of patronage refund and allocated  P3 million to be given proportionately to all qualified consumers for continuously availing the services of the electric cooperative.

The move approved by the board was given clearance by National Electrification Administration.

“The giving of refund to our members – consumers is in conformity with the by-laws of our electric cooperative and the NEA memorandum in granting patronage credit to consumers of electric cooperatives,” Sabio said.

“All members – consumers are entitled to the patronage refund. The refund shall be applied one time as credit to electric bills to be incorporated in the July 2012 billing under item “Patronage Credit/Refund,” he added.

It was noted that this was a first time for ISECO, which has a total of 151,985 member-consumers, to give patronage refund to its member–consumers.