‘Akelco worsens under NEA helm’

KALIBO, Aklan — A high-profile takeover by the National Electrification Administration (NEA) of the Aklan Electric Cooperative to ostensibly improve its operations and save it from bankruptcy has apparently backfired.

This was the assessment made by Akelco board president Melanio Rentillo 80 days after the NEA takeover ordered by NEA Administrator Fr. Francisco Silva.

Expressing concern over the deterioration of the cooperative’s finances, Rentillo said Akelco’s demandable obligations to the National Power Corp. (Napocor) have ballooned to P125 million from only P25 million less than three months ago.

The increased debts to Napocor, he said, could be attributed to a 50 percent drop in Akelco’s collection efficiency, an expected outcome as demoralization swept through the ranks of its employees over unpaid wages and benefits, Rentillo said in a statement.