LEGAZPI CITY—Barely eight months since it took over the ailing Albay Electric Cooperative (Aleco), San Miguel Energy Corp. (SMEC) claimed it had already supplied over P800 million worth of power through its Albay Power Energy Corp. (Apec).
In a radio interview last week, Apec Information Officer Jane Rogando confirmed that Apec had already accumulated P800 million worth of power supply from SMEC since it started operating Aleco in January.
SMEC took over Aleco in January, the first cooperative to be privatized after successive failed efforts to rehabilitate it, the co-op had about P4 billion in debts.
Newly appointed Apec General Manager Manny Imperial said SMEC is not after turning profits in operating Aleco. He explained that the San Miguel Corp.-owned power firm is in Albay to contribute its share for corporate social responsibility.
Apec earlier promised to fully restore power in Albay by end-September, two-and-a-half months
after Typhoon Glenda toppled lines on July 15. On Monday it said it has powered up 72 percent of the
barangays.