TAGBILARAN CITY – The provincial government of Bohol has received some Php40 million plus of power and water dividends, representing its 30% stakes in the Bohol Light Company, Inc. (BLCI), and Bohol Water Utilities, Inc. (BWUI) so far since the controversial Joint Venture Agreement (JVA) was approved about 15 years ago. But it spends some Php15 million to pay for the electric consumption annually, including those in the provincial-run hospitals, provincial treasurer Eustaquio Socorin told the committee of the whole of the Sangguniang Panlalawigan of Bohol.
The hearing conducted yesterday by said committee presided over by board member Atty. Abeleon Damalerio was prompted following the manifestation of board member Atty. Tomas D. Abapo, Jr. to invite board of directors representing the province to the two utility companies (BLCI and BWUI) to a committee meeting to shed light on its stakes.
This also came up when board member Elpidio Jala expressed concern on why there was no single quarterly report rendered by the board directors to SP this year despite an approved Resolution of the body requesting them (board of directors) to submit the report, minutes of the SP session showed.
Socorin, who was invited during the said committee meeting, said that the provincial government has received some Php10 million for water dividends as its share so far. But he did not specify how much dividends the province got each year since 2012 when the BWUI started to distribute the “profit.”
Newly-installed board of director Atty, Inocentes Lopez, former provincial legal officer, said in his power point presentation before the committee that the province has received a total of Php38,625,000, as the province’s dividends for power. The province started to receive its share of power dividends in 2008.
The provincial government got a share on January 3, 2008 of Php3,375,000 as its power dividends based on 15 centavos per share.
The biggest chunk of its dividend was on December 15, 2012 when it received a total of Php11,250,000 at 50 centavos per share. The smallest was in August 1, 2009, Php2,250,000 at 10 centavos per share, data presented by Lopez showed.
Other power dividend break down into: Php1,125,000 at five centavos per share on April 23, 2010; Php2,250,000 at ten centavos/share on December 8, 2010; Php3,375,000 at 15 centavos/share on June 16, 2011; Php4,500,000 at 20 centavos/share on April 13, 2013; Php7,500,000 at 33 cnetavos/share on April 15, 2014; and Php3,000,000 at 0.1333 centavos/share on January 15, 2015.
The power point presentation also showed that lot changes and improvement have been instituted to the twin utilities, formerly run by the Provincial Public Utilities Department (PPUD) and eventually sold to Salcon group of companies by way of a JVA.
One of these is the capacity that former PPUD had only 7MVA with 15.57% systems loss but with the BLCI now, the capacity is increased to 35MVA with a 7.5% systems loss.
The directors appeared to be bragging about the power rates imposed by the BLCI which is considered the lowest, Php7.73 per kilowatthour when compared to other power utilities in the country.
Bohol Electric Cooperatives (Boheco) I and II impose Php9.27/kwh and Php9.22/kwh, respetively; Meralco, Php9.77/kwh; and VECO, Php11.18/kwh.
Former governor David Tirol and Lopez represented the province as directors to BLCI while former water in-charge in PPUD Engr. Emifdio Acierto and Atty. Antonio Amora, who was absent during the said meeting, BWUI directors.
Aside from Damalerio, Abapo, Jala, board members Atty. Benjie Arcamo, Godofreda O. Tirol, Romulo Cepedoza and Atty. Dionisio Balite also participated in the meeting. Damalerio represented Vice-Gov. Concepcion Lim as the presiding officer of the committee of the whole. (rvo)