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            No less than the operation manager of the Bohol Light Corporation (BLC) has admitted that after five years, the utility firm has not issued dividends to it shareholders.

            Engr. Noel Alingig told a joint committee of the Sangguniang Panlalawigan (SP) that the reason for this is due to the financial standing of the company which he described as “still break even”.

            Alingig’s admission, which was noted in the joint committee report, went as far as claiming that the company is not yet profitable.

            The committee report was read by SP Member Alfonso Damalerio II during Tuesday’s session. Damalerio chairs the committee on public utilities and franchises.

            Alingig’s admission bolstered the position of Vice Gov. Julius Caesar Herrera that BLC must render a report of its financial position to the province which is a shareholder of the utility under the Joint Venture Agreement (JVA).

            Herrera, who has expressed opposition to the rate increases applied for by the BLC, said the firm should first present a public accounting of its operation in the last five years because the people are entitled to know about the real status of the firm.

            “There should be transparency because the people have the right to know,” the vice governor noted.
            Among the recommendations made by the joint committee was to request the provincial legal officer to check and review the nature of the JVA where the province has a 30 percent share of equity.
The committee also expressed doubts about the validity of BLC’s franchise, a position which is being held by Tagbilaran Mayor Dan Lim.

According to the committee, the Electric Power Industry Reform Act otherwise known as the EPIRA Law vested in Congress the power to grant franchises for entities who engage in the transmission and distribution of electricity.

It noted that the National Electrification Commission (NEC) granted a permanent franchise to the BLC on July 10, 2003, two years after the effectivity of the EPIRA Law.

The joint committee said that assuming that BLC does not have a congressional franchise from Congress and if its franchise from the National Electrification Administration is not within the coverage of five years set by the agency after the EPIRA Law enactment, BLC should comply with the EPIRA Law.

At the same time, the committee proposed a resolution enjoining all three Bohol congressmen to oppose any application for franchise by the BLC.

Both provincial and city officials took offense at the manner the Energy Regulatory Commission conducted its public hearing on the rate increase application of BLC.

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