BENECO Interim Board of Directors chairperson Steve Cating and Engr. Melchor S. Licoben assure the Sangguniang Panlalawigan of Benguet of BENECO's smooth operations and financial stability. Cating, who had a vast audit experience, talked of BENECO's liquidity. He held various positions in US banks such as Vice-President in Finance. Vice-Gov. Ericson Felipe lauded the detailed historical briefing of Licoben on the various loans and alleged unpaid obligations to its power supplier, Team Energy.