The 2008 Annual Report
"Revisiting the Rural Electrification Program in the Island Province of Catanduanes"
32nd Annual General Membership Meeting
September 5, 2009
Virac Sports Center
Rawis, Virac, Catanduanes
Energy Sales
The composition of income items follow;
Account .......................................................... 2008............................................................ 2007..................
--------------------------------------------------------------------------------------------------------------------------------------
Residential ______________________ P 151,870,315______________________P 127,214,279
Commercial ________________________ 44,247,123 ________________________ 37,185,551
Public building & facilities ______________ 26,223,422 ________________________ 19,819,675
Public & private street lighting __________ 5,816,114 __________________________ 3,078,399
-------------------------------------------------------------------------------------------------------------------------------------
Total ...................................................... P 228,156,974 ........................................... P 187,297,904
Statement of Operations
....................................................................... 2008 .......................................................... 2007
-------------------------------------------------------------------------------------------------------------------------------------
Operating Revenues ............................. P 228,156,974 ........................................... P 187,297,904
Cost of Energy Sold ................................. 162,442,693 .............................................. 128,812,399
Gross Margin ............................................. 65,714,281 ................................................ 58,485,505
------------------------------------------------------------------------------------------------------------------------------------
Operating Expenses
Operation & Maintenance ......................... 23,758,180 ................................................. 18,923,820
Administrative & General .......................... 19,407,312 ................................................. 17,528,980
Consumer Accounts .................................. 13,239,993 ................................................. 12,349,032
------------------------------------------------------------------------------------------------------------------------------------
.................................................................. 56,405,485 ................................................. 48,801,832
Depreciation ............................................. 11,297,768 ................................................. 19,614,532
------------------------------------------------------------------------------------------------------------------------------------
Loss from Operation ................................. (1,988,972) ................................................. (9,930,859)
------------------------------------------------------------------------------------------------------------------------------------
Other Income (Charges)
Revenue from Merchandizing
& contract work ............................................ 120,645 ....................................................... 107,825
Interest Income .............................................. 50,861 ......................................................... 31,886
Rental Income ................................................. 39,710 ......................................................... 10,494
Interest expense ...................................... (6,398,310) .................................................. (6,934,830)
Others, net ................................................. 2,694,940 ....................................................... 918,807
................................................................. (3,492,154) .................................................. (5,865,818)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
NET LOSS .................................................. (5,481,126) ................................................ (15,796,677)
Statement of Changes in Equities and Loss
------------------------------------------------------------------------------------------------------------------------------------
........................................................................ 2008 ............................................................. 2007
------------------------------------------------------------------------------------------------------------------------------------
Equities
Membership
Balance, beginning ....................................... 195,620 ........................................................ 190,115
Receipt of additional membership .................... 5,820 ............................................................. 5,505
-----------------------------------------------------------------------------------------------------------------------------------
..................................................................... 201,440 ......................................................... 195,620
-----------------------------------------------------------------------------------------------------------------------------------
Donated Capital
Balance beginning ................................ 318,238,340 ................................................... 264,730,615
Receipt of additional membership .......... 12,312,000 ...................................................... 53,507,725
-----------------------------------------------------------------------------------------------------------------------------------
.............................................................. 330,550,340 ................................................... 318,238,340
-----------------------------------------------------------------------------------------------------------------------------------
Contribution in aid of construction
Balance beginning .................................. 81,330,811 ..................................................... 71,503,590
Receipt of additional contribution ........... 12,006,630 ....................................................... 9,278,687
-----------------------------------------------------------------------------------------------------------------------------------
................................................................. 93,337,441 ..................................................... 81,330,811
-----------------------------------------------------------------------------------------------------------------------------------
LOSS
Accumulated Loss
Balance beginning ............................... (176,477,835) ................................................ (157,529,280)
Prior period adjustment, net ................. (17,560,713) .................................................... (3,151,878)
Net Loss .................................................. (5,481,126) .................................................. (15,796,677)
-----------------------------------------------------------------------------------------------------------------------------------
............................................................. (199,519,674) ................................................ (176,477,835)
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL EQUITIES & LOSS ........................ 224,569,547 .................................................. 223,286,936
**********************************************************************************
FICELCO 2008 ANNUAL REPORT
Business Meeting - Open Forum
Part of the questions raised which were said to be repetition from the past AGMM. (from the Minutes of the 31st Annual General Membership Meeting which was read by the Board Secretary, Director Julie T. Tapanan.)
Consumer Question: An samuyang problema mas magayon man na madangog man ng Board pati na man ni Mr. Pablo Pan kan NEA. Kang taon 2005, nagkaigwa ning order ang Energy Regulatory Commission manungod kaining ERC Case No. 2003-110, ini manungod sa Final Rate Reduction (with corresponding refund). Aram na man tabi ini kan Board. Ngonian, ang concern ng mga consumer ta base sa order na ini ng ERC, dapat magbaba ang rate ng kuryente dindi sa Catanduanes ng maabot sa P 1.10 kada kilowatt-hour. Kung ini pinasunod kan taong 2005 base sa ERC order na ito, nag-abot sana sa 50 milyones kutan-a ang utang ng FICELCO na dapat kutan-a i-refund na samo. Dahil sa order na-determinaran kang ERC na halangkaw ng P 1.10/kWh ang rate. Sa ngonyan na taon, ini gasobra na sa 100 milyones (na refund) ta dai pa ini nai-implementar hanggang sa ngonyan. Ining refund na ini pati rate reduction, importante ini, hanggang dai ini naipapasunod, ang dagdag sa utang ng FICELCO sa samuyang konsumidor maabot ini ng 2 milyon pesos mahigit kada bulan, hanggang dai ini maimplementar. Sige an dagdag nin 2 milyon kada bulan hanggang sa ini maimplementar. Utang ng FICELCO sa konsumidores. Ta kulang-kulang 140 million na utang ng FICELCO sa konsumidores, ang hapot mi nuarin ini ipapasunod sa Catanduanes?? Maski na siguro bako na muna so refund, at least reduction muna na P 1.10 kada kilowatt-hor?? Iyo man sana tabi...
FICELCO Answer: Aram mo an pigataram mo, may order an ng ERC Rate Reduction of Php 1.10 centavos then an ginibo ng FICELCO, we have filed a "motion for reconsideration" for that decision because aram mo an mangyayari sa FICELCO pag pig-implement ta ang rate reduction na Php 1.10. Ang iilawon ta tabi kandila no lampara kasi magiging ang revenue loss ng FICELCO will be 6 million a month. Kaya ngani ako nagpunta sa ERC, ang sabi dun nin grupo ng UKAG, napaliwanagan man, ang sabi ninyo tabi, you will see the goose that lays the golden egg. Ang pariwanag ng ERC, kasi ang rate reduction ma-KUKUWAN ang FICELCO. Bako man yan na utang ng FICELCO sa konsumidores. Aram mo ang roots kung 'ta yun nagkaigwa ng reduction, dahil yun sa loan condonation (program ng EPIRA). Na-condone ang loan na almost Php 170 million. Ang loan ng FICELCO sa NEA. Tapos para mabayadan para makabayad an FICELCO sa loan condoned na ito, that is why may rate reduction. So actually bako man ito na utang ng FICELCO sa konsumidores kundi that amount was actually condoned by the NEA. I finally worked it out ta talagang an mangyayari sa FICELCO iyo ngani na "YOU WILL KILL THE GOOSE THAT LAYS THE GOLDEN EGG". Kasi almost Php 6 million an mawawala sa revenue na ipapataw sa konsumidores. Then paano na ang operation ng FICELCO? Paano na ang babayaran? So the ERC thought it wise na i-defer muna ang implementation of rate reduction based on that principle. Did I say it right?
Consumer Question: Pigasabi mi ngani na utang sir ta ining order ng ERC, nahiling ninda na an rate na pig-apply uya na so "unbundled rate", nahiling kang ERC na halangkaw ng P 1.10. Gusto mi sabihon kaito na utang, ta siningil ito samuya pero bako man palan ini na so dapat nasingil samo. Kaya ngani ang order ng ERC i-refund ini sa samo. Gustong sabihon ibarik sa tawo. Ang hapot mi man sana sir nuarin pa ini i-implementar? Ining rate reduction na ini na P 1.10/kilowatt-hour na sobra base ini sa P 179 million na utang ng FICLECO sa NEA before na pig-aplayan ngani ng loan condonation. Ta an P 179 million na ini, dai na man ini. Pigbalewala na ini ng gobyerno base sa EPIRA. Ang kaso man uya ta so amortization kaini na kabayadan sa P179 million na ini, padagos na pigasingil sa samo. Iyo ini so minaabot ng P 1.10/kWh. Kaya mi nasasabi na ini utang ta dai na man dapat ini singilon samo. Dai nyo man ini pigabayadan ta pinatawad na ngani ng NEA. Ang hapot mi man lang nuarin ini i-implement ang rate reduction???
FICELCO Answer: Nagtaram na ngani kaso bag-o na kung hihilingon ta ang problema, although right niyo an, aabutan kita uya ng alas singko (5:00). Pero ta adyan na ang sainyong kahapotan, arog kaini an simbag, gahalat pa tabi kami ng simbag ng ERC. Ang FICELCO dai puwede maghiwas na daing approval ng ERC. Pero rest assured na dahil tinao mo na ang problema sako, kung igwa man kaming dapat bayadan, mapuon na kaming ipon-ipon sa separate account for that purpose. And besides pigagibo mi an sa aspeto ng samuyang financial, ang mga bayadan na an. So siguro imbitaran ka nimi tanganing mapariwanagan ng detalye. Dai mi na-implement ang Rate Reduction ta ang decision ng ERC hold. Deferred na.
Business Meeting - Open Forum
Part of the questions raised which were said to be repetition from the past AGMM. (from the Minutes of the 31st Annual General Membership Meeting which was read by the Board Secretary, Director Julie T. Tapanan.)
* In-coming member of FICELCO Board of Directors Alexander T. Teves raised this question to the BOD.
Consumer Question: "Igwa po nin resolution an Board of Directors kan FICELCO an yaon po digdi, an substansya iyo ini: Resolution Approving Memorandum of Agreement signed by the Ficelco Board of Borectors, GM Caloy Gianan, Mrs. Lolita Rumbines et al. Retirement Benefits and Other Concerns. Kaso mga naka-aging mga bulan kun dai nyo naisihan, nagkaigwa po kita nin problema dyan sa Ficelco na nag-causa ngani sa pagkasuspende kan satuyang General Manager na si Caloy Gianan. Ngonian nag-opt siya na mag-retire. In-approve kan Ficelco Board, and also the concurrence kang NEA. Kaya po ang hapot kong ini, naka-close up po sainda. An package kan saindang retirement benefits iyo po ini: ang ki Engr. Gianan is 4 million, ang ki Lolita Rumbines P1,184,853 something. An ki Lucy Guerrero P842,735. All in all running for almost 6 million pesos co-op funds po iyan. Ngonian, ta yaon man po dindi si Administrator Pan buda an mga Board of Directors na nagpasa kan resolution na ini, gusto mi po na malinawan kung ano an basehan kan Board of Directors asin ngata ta inaprubahan man po ini kan NEA na samantalang igwang existing policies ang Ficelco on matters of retirement package. Ano po ini? Exeptional? (Kun) ini po exceptional, ano po an kuwentada kaini? Sa naaraman niya padagos si Mr. Gianan, an dating manager nagkaigwa ninj kaso. Kinasuhan siya kan Board, kinasuhan man an Board. Ngonian para ma settle once and for all an mga problema dapit sa gabos, nag-propose siya ng retirement package na ini an kantidad. Pig-propose sa Board, inapprove nin Board, pig-concur man ng NEA. Ano po an basehan kaini? Kasi kahelak man kan satong cooperativa na 6 million an mawawara, kahelak man kan empleado kan Ficelco na sige an kolekta, mapunta sana sa sarong retirement na sa hiling ko irregular, immoral, baad pa ngani anomalous ini. Tabi man po Administrator Pan o an Board of Directors kan Ficelco pakisimbag an bagay na ini. Kun halawig an detalye, hahagadon ko po sa inyo sa pag session kan Board of Directors na itao po samuya an detalye kaini. Mabalos."
FICELCO answer: "Enot gusto ko ipasabot kay Director Teves na siya po miyembro na kan Board of Directors. And that question puwedeng ma-answer sa pag-board meeting namo sa aban-aban. Pero gusto kong ipasiguradfo sa mga member-konsumidores na during the negotiation sa NEA Central Office, may mga basehan po kami ng pag-compute ng retirement benefits kay Caloy Gianan. Particularly Caloy Gianan, kasi mismong kaming presente duman, habo mi magtao ta baging kadakula talaga. Pero kan luwasan kami Circular ni Deputy Administrator Pan na the GM when he retires is allowed to collect for every year of service two months of salary plus per diem per representation. Nag-render siya ng service of around 23 years. If you compute that and allowances is almost 60,000. If you compute that magiging 46 years, that will be amounting to 4 million. Malinig po ta ang Board dai man po mapayag na ganun, basta na lang namo itao. Gaapat na oras kaming negosasyon ta habo ming itao an gusto niya nag-angat pa ngani kami na magkarasuhan na lang. Pero dahil pamilyado man yun baad in the long run maapektahan an serbisyo ng Ficelco sa inyo ta siyempre kaso-kaso. Ma kaso siya, ma kaso man kami. Nag oho man kami. Provided it is in accordance with the law. Na sinunod namo. It is in accordance with law. Mabalos tabi."
Consumer question: "Follow-up duman sa (kahaputan kan) Director kan San Miguel. Ga pasalamat ako sainya. Puwede tugutan an sarong empleyado na igwang pending case. Ta kaming UKAG igwa kaming kinasuhan na tolong empleyado. Kaya an hapot, pwede man an tugutan na igwang pending case?"
FICELCO answer: "Pribeleheyo ng sarong empleyado na mag-retire minsan sino. Dai kia dyan puguron dahil pribeleheyo mo yan. An problem, kun mag-retire ka, the very big question is, is he entitled to the rights privileges and benefits accorded to him? Iyan an pinaka question ng sarong ma-retire o ma-resign. Yes we have allowed Carlos Gianan III, the former General Manager to gracefully exit from FICELCO. Actually the payment for Carlos Gianan is 3.2 million per computation ng NEA. The balance of 800,000 is with the authority of the Board. That is our decision because if we would... ang sistema kasi sa negotiation Mr. Tabirara, the system of the negotiation is that is... Carlos Gianan filed a case against the Board then we have filed a case against Carlos Gianan. To have a win-win situation, we have made a decision to drop both cases that in the Memorandum of Agreement, we will drop a case against Carlos Gianan and the same with Carlos Gianan to drop the case the Board of Directors. So if any case is still pending before any tribunal or say administrative body, then those cases will be dropped."
Consumer question: "Tangata ta pigtugutan ninya? An kaso na pig-file mi criminal for management for Falsification of Public Documents. Kaya dai mo pagdagdagan an kantidad na an ta mahalawig kita. Dai mo pahalawigon tabi ta nganing so iba mataw-an man nin lugar."
FICLECO answer: "Your question is why we allowed Carlos Gianan to retire or to resign from the services even though there is a pending case before the Regional Trial Court or the Municipal Trial Court of Bato. Is that your question? An simbag ko man saimo, the rights and the privileges belong to that individual. Ang problema nga lang dito, sisay an makapigil ng sarong tawo na mag-retire o mag-resign? Because that is the privilege of Carlos Gianan III. The next problem that will be left by the GM is... maybe I have answered your question. Ta yun ta tinugutan na mag-retire si Carlos Gianan. Nobody. Sabi ko ngani, daing makapugol na sarong tawo na mag retire o mag-resign sa sarong empleyado. That is his right and privilege. Ang pang duwa, kung papano mababayadan an pag-retire o pag-resign yan an problema."
pag-asa
sa alog kaining sistema nin ficelco nahihiling nin mga konsumedores na igwa pang pag-asa... pag-asang mag-pasige ang daing katapusan na brownout & paghalangkaw nin bayadan sa kuryente...
http://www.catanduanesforum.com/?q=image/endless-dilemma-catanduanes-0
[ "Dai man-ipot nganing dai pag duhayan!"...taypongard ]