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ABRECO plunged in P600-m debt

Abra Electric Cooperative (ABRECO)

Abra Electric Cooperative (ABRECO) 0 File Photo

by Abe P. Belena

BANGUED, Abra—The Abra Electric Cooperative continues to bleed as debts incurred by resigned manager Marco Bautista have ballooned to about P600 million by early this year.

Documents from the National Electrification Administration and other government agencies that included a comprehensive audit report, a table of indebtedness of that cooperative for over 10 years, financial statements, interviews and published reports support the allegation.

The bleeding started in 2005 when the cooperative recorded monthly losses averaging P250,000. The loss continued until its latest financial report submitted to NEA in June last year. The cooperative was found short of cash on hand amounting to P1 million.

A provincial board member, James Bersamin, had started making public those debts when he was gunned down in October 2005. A cousin, the late Chito Bersamin, was assassinated in front of a church in Quezon City two months later.

The bulk of the multi-million debts were owed to the Power Sector Assets and Liabilities Management Corp. which inherited it from the National Power Corp. by force of the Epira law.

The cooperative likewise has unpaid taxes of P12 million to the Bureau of Internal Revenue.

Stripped of its long-term supply contract with Aboitiz since last year, the electric coop had resorted to buying electricity from spot market at a much higher rate than long-term contracted power from a single supplier.

As a result, Abra consumers now buy an average power rate of P12 per kilowatt-hour, higher than Meralco rates and one of the highest in the world, a coop official intimated.

Starting at over P114 million in 2006, the PSALM debt had grown to P355 million by 2014 and about P500 million, records and statements of officials who asked not to be named show.

http://thestandard.com.ph/news/-provinces/198635/abra-power-cooperative-plunged-in-p600-m-debt.html

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Discussion

52 thoughts on “ABRECO plunged in P600-m debt

  1. world class rate / sikat!!!!!!

    Posted by guinness@gmail | February 21, 2016, 12:29 am
    • Tagal na ng problema na yan!
      Lalo yatang nabaon sa utang?
      Ano ang gingagawa ng namamahala?
      Ano?!?
      Nakakainis na.
      Baka next year 1 billion na.
      Di ba ang daming natanggal na empleyado?
      Di ba and daming natanggal na benepisyo?
      Di ba ang daming mga cost-cutting measures?
      Di ba ang daming mga subsidy galing sa pamahalaan lokal man o national?
      Di ba ang daming di nababayaran na retirees para lamang mabayaran ang utang na yan?
      Di ba tinaasan ang rate na binabayaran ng consumers?
      Bakit lalong lomobo ang utang?
      Di ko maintindihan.
      Nea ngaruden. kastoy lattan?

      The wonder of the internet.
      I learn from the internet.
      I read news from the internet.
      I watch movies in the internet.
      I socialize through the internet.
      I call my relatives abroad via internet.
      I book flights through internet.
      I shop through internet.
      I make withdrawals and deposits through the internet.
      I search solutions to problems in the internet.
      I pay bills through internet.
      See? Everything in the internet? – “he dragon”
      |

      Posted by RUSTICO "CAPTAIN DRAGON" REYNANTE | February 22, 2016, 12:04 am
    • Kasayaatan maikkat dan manipud manager agpababa.Aglalo ni Miss Carmelita Castillio,nia karbengan na agusar kwarta Abreco ,ket datayo a consumer agsagsagaba,pangalaan na igatgatang na luglugan plus pagsugal ken gasgastuen na a thousands.Damag ko pay ususaren na signatures daguiti kababagyan na nga iserserek na iti taktakawen na iti Abreco Iperma na kano pay ni General Manager saan ammon ni GM.aramiden na ida a katulong ,para tienda taga gatang vaginal supposutory wenno nia kayat na pangibaonan..saan inkalenteganen ,Agtrabaho da Abreco saan a para kania na.ipangpangas na milliones a kwarta na nangalaan na? d takaw na Abreco..Pls.kitaen yo pagsayaatan consumer saan para bukod yo a biag..over,over pinaggastos yo,Uray agastos kayo no sueldo ken pinagrigatan yo.Pakibusisi daguitoy tapno maamuan ti husto .ken maikkaten daguiti rumbeng a maikkat…Makauman aramid a dakami consumer ti agrigat ken isu da agragragsak mangus-usar pagbaybayad iti kuryente nagdakkel baybayadan… Kakaasi daguiti permanent empleado a inikikat da.apay kastan awanen agpension ken kinaawan human rights tunggal maysa …God Bless

      Posted by Josefina Anderson | April 20, 2016, 1:53 am
  2. fuck those abreco officials they are stealing the funds of the consumers,,the NPA s should be activated again on that province to assasinate those thieves,they are more than worst than animalllls

    Posted by Olrac Socram | February 21, 2016, 12:36 am
  3. I am glad that truth had been told. I told you that the honorable GM is not corrupt and will never be. Congratulations to this website for being apolitical despite the dirty politics in Abra.

    Posted by comli2013 | February 21, 2016, 1:18 am
  4. Idi 2006 ket 114 m ti utang ti Abreco nga maudi sa nga tawen ni atty Bautista. Ket ti 2014 ti PSALM NAGBALINEN NGA 355m ken agarup 500m ti utang. Apay nga ibaga ni nana COMLI13 nga saan nga corrupt ti agdama nga GM? Sa bagay saan ko nga suporta ran ni Atty ta ni Dr Bringas ti kayatmi nga agkakadua, ngem masapul nga ag sungbat tay pudno nga nagbasol.

    Posted by CONTRALASTOG | February 21, 2016, 8:34 am
    • You stupid Belena, as a writer you are downright stupid not practicing journalism neutrality. It is so obvious you are writing something that is politically motivated at this time when election is nearing. Before Bautista was still the GM, the employess were still having bonuses and their salaries were not postponed. Bautista inherited the debts thas has now balooned after the current GM took over 9 years or so ago but during the tenure of Bautista he actually was able to reduce the debts prior to the current GM takeover. Bautista as a mayor of San Juan has done such numerous projects that even the nationqal government gave him award. Why dont you fucting stupid writer write on this also?

      Posted by butse | February 21, 2016, 10:43 am
    • Comli, basaem ken anagem toy post ni Contralastog .

      Posted by Kumleb | February 23, 2016, 9:17 am
  5. ABRECO SHOULD STAY CLOSE UNTIL THE PROBLEM IS SOLVE

    Posted by Max Alvarado | February 21, 2016, 11:00 pm
  6. Da Vinci Code. pinatay da ni James Bersamin kasta met kenni Cong. Chito Bersamin gapuen iti daytoy anomalya takaw diay abreco ngem sabali met nabalud. kakaasi ni kabalyo ngem uray mamatiak ti karma.

    Posted by gabriel | February 22, 2016, 10:44 am
    • Gabriel that is a heavy accusation brother , What made you say that the cause of disappearance of the two Bersamin are related to ABRECO ???

      Posted by KARDO | February 22, 2016, 10:11 pm
    • It was rumured that politicians today in Abra are the one who kill each other even up to this days.During the times of kabalyo and chito no one could defeit them in any election the opposition at those days are the reigning politicians today.The death of chito shattered everyone in the province especially kabalyo who was wrongfully accused the timing of planning promted the press that the investigation should start with the son in laws of chito that rumured to have a rivalry from one another but the investigation did not continue in this route but instead they all pointed to kabalyo from which they succeded.No matter how strong you cover the truth it will and it will come out Right at the right time.The question before was who knows the day to day movements of chito is it not supposedly started to be investigated the son in laws first???open your eyes who ??your guess as good as mine

      Posted by Col. Lazaten | February 23, 2016, 1:31 am
  7. WAN MAN NGATA KOLYINTI TAYON NO MAYO ??? HAK HAK HAK..ANYA MAKUNAYO KAKA-ILIAN NGA PADAK NGA AGBAYBAYAD TI KOLYINTI????TAY PINAGADO TI UB UBBING MANEN AH ANYA NGARUD TI ARAMIDEN NGA SABALI TI RABII HAK HAK HAK

    Posted by KARDO | February 23, 2016, 10:28 pm
    • Awan problemak kinaawan kuryente ti abreco ta adda generator ko diay tologtog hihihi! Aginternetak to latta ta agbuya ak ti bold. Nagganas ti aginternet. Libre pay kunam man! Hacked ngamin toy modem ko, hihihi!

      The wonder of the internet.
      I learn from the internet.
      I read news from the internet.
      I watch movies in the internet.
      I socialize through the internet.
      I call my relatives abroad via internet.
      I book flights through internet.
      I shop through internet.
      I make withdrawals and deposits through the internet.
      I search solutions to problems in the internet.
      I pay bills through internet.
      See? Everything in the internet? – “he dragon”

      Posted by Rustico "captain dragon" Reynante | February 23, 2016, 10:56 pm
    • Hah! Umado manen ti ubbing! Ayos a! hahaha

      Posted by barok | February 24, 2016, 2:10 pm
  8. Kasla napirdi nga plaka dayta Erica. Dipay mangabak nga barangay kagawad wenno agbalin nga tanod ti kinalastog na. SG 32 agbibisin PWE

    Posted by CONTRALASTOG | February 24, 2016, 9:42 am
    • look what takit is doing contra he is endorsing a man behind the death of his relative n the reason why abreco went bankruft.he has no disposition he relied to his commander rubi

      Posted by eric shawn | February 27, 2016, 8:33 am
      • you stupid eric shawn, awan ti utek mo. your comment answered your question. blood is thicker than anything else. You insinuate that Marco did the killing? this guy who got killwed was planning to be a candidate at the then forthcoming election. Look up who were the powers that be then, who were vying for political power, who were setting up their own dynasty? They are the one who murdered this guy. Look up on the ten years that marco was a mayor of San Juan, He was never associated with killings. Go to san juan and ask any common constituent there and look around at how marco transformed that town.

        Posted by sanmiguel | February 29, 2016, 8:51 am
        • ive been there well in fact he is maintaining people with criminal records. the hired killer who shot bersamin was a henchman of angkik but marco hired him. its hard to establish cinspiracy bet marko n angkik but befire the gunman was murdered at dangdangla he confessed to sb benedito that he was hired by gm marko to kill james b. i cnt comprehend takit who is non violent man accdng to tagamadid why he endorsed a murderer.

          Posted by eric shawn | March 8, 2016, 9:27 pm
    • Agbibisin nga talaga ni eric shawn, kasatno koma nga salary grade 32 isuna ket salary grade 30 laeng pay ti prov’l governor.., agsalsalawasaw lang ni eric shawn awan ti ososto nga patpatangen na… MR. ERIC SHAWN FYI TI LA SALARY GRADE 32 DITOY PILIPINAS KET VICE PRES., SENATE PRES., SPEAKER OF THE HOUSE OF REPRESENTATIVE KEN CHIEF JUSTICE OF THE SUPREME COURT..

      Posted by juanito5659 | March 12, 2016, 3:55 pm
      • ERIC SHAWN MAYSA NGA KASALAWASAWANEN DITOY A.com
        PALAWAPAW LA UNAY

        Posted by juanito5659 | March 12, 2016, 4:11 pm
        • Pudno ta kunam Juanito, CALASTOGAN nga tao ditoy A com daytoy Er Er. Saan nga puli ni Abrenio daytoy nga palawapaw. Taga central Luzon daytoy nga kaaduan ti Buakaw ken Ampaw. No kasillaman/cr man su patiek.

          Posted by CONTRALASTOG | March 12, 2016, 4:30 pm
  9. KITAEN YO AH NO DIN TO KET TOY OBET KO TAY INKAY MAARIKAP INTO NO AWAN SILAW NO MAYO, TA TI AMOYO NI BAKET YO TAY INKAY MAAR ARIKAP ,,,TOY MET GAYAM OBET KON , DIAK TO MET IPADPADLAW NGA OBET KO DAYTA AH…….HAHAHAHA

    Posted by MANGKAKALLONG | February 25, 2016, 6:24 am
  10. Ania ngalud kakabsat paglubwatan da met ableco panan na d ma bankrupt. Inlugi ni taverner,marco,Ken guzman

    Posted by goriopaiotannio | February 25, 2016, 10:45 pm
  11. Finally, this did start in 2005 and even before it. Mayor Marco has already been robbing ABRECO. He used the money stolen for his Mayoral candidacy in San Juan. Him and his ‘friends’ got scared that someone knew of this doing and killed the ‘whistleblower’ brutally. And now his political strategy at the moment is Fear and Money. He is desperate to win the Congretional seat. Why? To run away from all of this. Legally. And now he and his brother in San Juan started their typical Fear and Money tactics to the people of San Juan months ago. “Haan mabalin nga maabak ditoy San Juan”. Why you ask? For the same exact reason. To cover up his dirty track. He has been doing, if not more, the same as he has done to Abreco. Sucking the life(MONEY) out of San Juan. So abrenians, you be the judge. Connect the dots.

    Posted by Simpleabra | February 26, 2016, 1:53 am
  12. STILL IN THE MIDDLE OF THE ABRECO BLAMING GAME MOVIE …CANT TELL YET IF MARCO WAS THE DIRECTOR OR THE ACTOR

    Posted by KAWITAN | February 26, 2016, 7:10 pm
  13. Taverner,Marco and Guzman are The milking actors in Abrecos CATCH US IF YOU CAN imovie

    Posted by Mr and Mrs Flores Tejero | February 27, 2016, 8:35 am
  14. KA ANNON KANTO NGARUD NGA AGTAKAW INTO NO AWAN KA NGARUD TI TURAY.SAAN A TATTA A TA NAKATURAY KA NGARUD NGEM APAYEN AYA NGA DETOY MET TI NAGBALIN NGA PANPANONOOT TAY INTAY BOTBOTOSANEN KAKAASI LATTA DA TAO NGA AGBAYBAYAD TI BUWIS TA AWAN MET AGSUBLI KANYAMI NGA AGBAYBAYADEN TA TAKAWEN MET NI POLITIKO ISU NGA MAPANONOOT TI KAADWAN NGA AGREBELDE TI KASTOY NGA ISTILO TI PANAGTURAY RABAKEM MET NGA SIKA PAY NGA AGBAYBAYAD TI TAKAWEN DA TI AGYAMAN KANYADA NO INDA IBANAG DAGITOY PONDO NGA PARA TATTAON MARYAKOSEP MET DETOYEN NGA ARAMID TI AGTURAYEN

    Posted by LOKDIT NI MARIANO | February 28, 2016, 10:50 am
  15. =======

    WHEREAS, the coop records disclosed that our total loan obligations recommended by the NEA to be assumed by PSALM is P201, 944,061.09;

    WHEREAS, the aforesaid loan represents the total outstanding loan of Abreco to NEA as of June 26, 2001;

    WHEREAS, the coop loan obligations as of June 26, 2001 has already been assumed by PSALM and hence can no longer be considered as obligation of Abreco with NEA;

    WHEREAS, the coop have remitted the total amount of P25, 628,088.75 to NEA for payments of its loan obligations after June 26, 2001;

    WHEREAS, the coop have an outstanding loan obligations with NEA after June 26, 2001 in the amount of P22,411,712.63;

    WHEREAS, the coop have been informed that the coop remittances of P13,564,775 after June 26, 2001 have been applied to the interest on loans already assumed by PSALM and only P2,745,728 have been applied to residual loans;

    WHEREAS, this application of payments to our loans already assumed by PSALM considered as condoned have created undue disadvantage to our coop and it should not have been applied to interest on loans already assumed by PSALM

    NOW THEREFORE ON JOINT MOTION AND SPONSORSHIP, be it

    RESOLVED, AS IT IS HEREBY RESOLVED, earnestly requesting the National
    Electrification Administration through the Hon.EDITA S. BUENO,
    Administrator for her utmost favorable consideration that the loan payments of the ABRECO in the amount of P13,564,775 applied to interest on loans already assumed by PSALM should be withdrawn and should be applied instead to the loans acquired by the coop which were not assumed by PSALM;

    RESOLVED further that ABRECO wishes to affirm its unwavering support and cooperation to the National Electrification Administration and ABRECO is united with NEA in all its programs and noble objectives;

    RESOLVED FURTHER to furnish copies of this resolution to the Honorable Edita S. Bueno, NEA Administrator for her favorable action and generous consideration;

    RESOLVED FINALLY to furnish copies of this resolution to NEA for their
    information and guidance.
    ——–
    =======

    Posted by abrecoreso | February 29, 2016, 11:20 am
    • If one is honestly interested in getting a clearer understanding of electric cooperatives and their alleged mismanagements, pls don’t resort to piecemeal,spotty,very incomplete articles because there is a long history of these that dates back to when I can’t remember right now.How did this EPIRA/PSALM laws evolve for example.I myself am still trying to make sense of it. And I will try my hard. One thing clear to me though is it’s not fair to pinpoint on this website 1or2or3individuals as the culprits especially at this time when people are understandably bent on campaigning for their candidates in the May 9,2016 elections.

      Posted by Damasen | March 1, 2016, 1:08 pm
  16. * * *

    Philstar march 30, 2016
    Jarius Bondoc’s column
    “Abra’s Congressional race”
    Quote:
    Two mayors are contesting the lone congressional post of Abra province: Joseph Bernos of La Paz town, and Marco Bautista of San Juan. Hanging over the faceoff is a series of murders, solved and unsolved.

    In Nov. 2006 provincial board member James Bersamin was gunned down while on his morning jog in front of the cathedral in the capital town of Bangued. The murder is not to be confused with that one month later in Metro Manila of his distant relative Rep. Luis Bersamin, brother of Supreme Court Justice Lucas Bersamin. The congressman had just attended a relative’s church wedding when waylaid at the parking lot. Justice was swift; the sitting governor Vicente Valera was convicted as the mastermind.

    In the James Bersamin murder, witnesses had pointed to two sets of hit men, but no mastermind. He was a bitter critic of Mayor Bautista, at the time the general manager of the Abra Electric Cooperative. The former had accused the latter of multimillion-peso misspending. Some details came out in the National Electrification Administration audit report for 2006. Bautista popularly won the San Juan mayoralty afterwards.

    There was a third murder, much earlier in Jan. 2006. Mayor Marc Ysrael Bernos of La Paz was killed by a still unidentified assailant. The flood of sympathy for the family won for brother Joseph in 2007 the vacated mayoralty. He won again in 2010 and 2013, by landslides that left the perennial opponent with only two percent of the vote.

    Marc Ysrael’s widow, Joy Valera Bernos (not related to the convicted governor), defeated the incumbent congressman in the 2010 election. Re-elected in 2013, she is now running for governor against Ruby Bersamin, wife of Gov. Eustaquio Bersamin, who is now eyeing the mayoralty of Bangued. The incumbent mayor is Rep. Bernos’ father, Dominic Valera.

    The killings of 2006, unprecedented even in politically violent Abra, will be in the minds of the voters. Same with the electricity cutoffs of Abreco by Aboitiz Power in 2012-2014, due to unpaid power purchases dating back to nearly a decade. end of quote

    * * *

    Posted by Kapya | March 30, 2016, 4:17 pm
    • This is another attempt to smear Bautista. You did not point out that James Bersamin was planning to be a candidate for mayor in Bangued in the upcoming election beside his distant cousin. did you look into that angle who has army at the time? Did you ask yourself that the valeras, Lunas, Seares, and Bernos were all trying to set-up/maintain their dynasties? They all have armies at the time. Bautista does not even have a bodyguard at the time. Yeah he had criticism against Bautista and this was a stupid timing for those who wants J Bersamin eliminated because they think they can setup Bautista but any person with common sense Bautista does not have in his personality of violence. The valeras could have done it, The Lunas could make it appear the Valeras did it. The Bernos could think they can set a war between the Valeras and the Lunas. Bautista already inherited a debt when he assumed office in Abreco. Dig-up the old employees of Abreco then. their wages were not at all posponed, they even have bonuses and hiring was up not down. If Abra wants a credible congressman look at how Bautista transformed San Juan during his tenure.

      Posted by Rangayabra | March 31, 2016, 6:05 pm

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