The Energy Development Corp. has awarded the Negros Oriental II Electric Cooperative with the 2016 Most Prompt Payer Award last December 1st.
This is the fourth consecutive year that NORECO II was able to timely meet its obligation with EDC.
In a statement, the Noreco II said the award was the result of the concerted efforts of every one who worked hard, from the employees who delivered the electric bills of the member-customer-owners on time, to those who collected the payment efficiently and to those who made sure that the operations of the cooperative run without a glitch.
The electric cooperative also paid tribute to the MCOs who religiously pay their monthly obligation on time, enabling the cooperative to also settle its monthly responsibility to its power suppliers on time. Because of the conscientiousness of the MCOS, NORECO II is able to avail of a prompt payment discount.
Green Core Geothermal, Inc. , a subsidiary of EDC, offers a 3.2 percent prompt payment discount to NORECO II if it can pay its power bill 5 days from the receipt of the bill.
General Manager Dionefred Macahig said the prompt payment discount that the cooperative enjoys goes back to its MCOs through a decrease in the generation charges. “The lowering of generation charges means that the MCOs pay a lesser amount for the generation charges”, he said.
