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MCO Power: BENECO Breaks Attendance Records at 2026 AGMA

ITOGON, Benguet — The Benguet Electric Cooperative (BENECO) recorded its highest-ever member turnout with the conclusion of its 45th Annual General Membership Assembly (AGMA) on Saturday, June 20, 2026, at Pacalso National High School.

A record total of 14,107 Member-Consumer-Owners (MCOs) attended the sequential meetings held over the first three Saturdays of June across Baguio City, La Trinidad, and Itogon.

This massive turnout represents a significant increase from last year's attendance of 8,150. Management emphasized that this overwhelming participation is not just a statistical achievement but a critical driver of the cooperative's survival and operational sovereignty.

"The survival and sustainability of a cooperative do not depend solely on wires and transformers, but on the bond of trust between those who govern and manage the cooperative and the Member-Consumer-Owners," said General Manager Melchor Licoben, expressing his deep gratitude to the attendees.

The assembly kicked off on June 6 at the Baguio Convention Center with 5,911 members in attendance, continued at Benguet State University (BSU) in La Trinidad with 5,575 participants, and concluded in Itogon with 2,621 members.

In his management report presented in all venues, Licoben highlighted the cooperative's operational and financial achievements.

Fiscal Strength and Transparency

Share capital (SC) interest earnings are actively being credited back to members through June billing reductions for MCOs with share capital below ₱10,000, or through separate checks for members with share capital contributions of ₱10,000 and above.

BENECO also passed all key financial performance indicators and regulatory compliance requirements.

National Benchmark for Efficiency

BENECO remains one of the country's top-performing electric cooperatives, once again receiving a Triple-A Categorization from the National Electrification Administration (NEA) as a Mega-Large Electric Cooperative. It likewise maintained a single-digit systems loss rate.

This operational efficiency translates directly into lower systems loss charges passed on to consumers, allowing BENECO to maintain some of the country's lowest electricity rates for several consecutive years prior to the current Middle East crisis.

Infrastructure Reinvestment

To address minor reliability issues identified in 2025, BENECO aggressively implemented infrastructure projects worth ₱282.2 million. Major accomplishments included upgrading the Lamut Substation in Itogon from 20 MVA to 50 MVA and rehabilitating another vital substation, increasing its capacity from 5 MVA to 10 MVA.

Ownership as a Shield Against Corporate Takeovers

Addressing an open forum inquiry regarding BENECO's asset valuation, currently estimated at ₱4.65 billion based on a recent independent appraisal, GM Licoben reminded members of the importance of active ownership.

He noted that private corporations continue to eye electric cooperatives across the country as opportunities for commercial expansion, citing ongoing legal and franchise disputes in Davao, Iloilo, and South Cotabato.

"We must protect the assets of our cooperative because corporations are eyeing our electric cooperative. Ultimately, we own this co-op. This is our co-op."

The assembly approved the following:

• 2025 Management Report
• Appointment of Delio I. Samolde and Associates as External Financial Auditor for 2026
• 2026 Cash Operating Budget
• ₱567.2 million Distribution Development Plan (DDP) for 2026–2028

"Your Board of Directors are very willing to sit with you," Board Chairperson Engr. Claudio M. Calugan assured the Member-Consumer-Owners. "We are doing our best as your representatives to the Board, and rest assured that we are here for you and diligently study all angles of every concern that affects all MCOs and the continuing sustainability of our cooperative."

Throughout 2025, the BENECO Board acted as a decisive policy-making body, passing 178 resolutions to ensure the cooperative remains financially sound, technically reliable, and operationally efficient. These measures covered power supply procurement, infrastructure and electrification programs, financial management, legal compliance, calamity subsidies, and corporate social responsibility initiatives.

Supported by an impending ₱100 million fund allocation from the National Electrification Administration (NEA), BENECO will continue its Sitio Electrification Program (SEP), targeting 28 new projects in 2026 to bring electricity to underserved sitios.

(LSI)

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Message from the Chairperson

On behalf of the Board of Directors, Management, and the entire BENECO team, we extend our heartfelt gratitude to all Member-Consumer-Owners who participated in and supported the successful conduct of the 45th Annual General Membership Assembly (AGMA) 2026.

Your presence, active participation, and valuable insights greatly contributed to the success of this important gathering.

The AGMA serves as a vital platform for transparency, accountability, and strengthening our cooperative through meaningful dialogue and informed decision-making.

As we move forward, let us continue to work together in unity and cooperation for the growth and progress of BENECO and the welfare of all Member-Consumer-Owners.

Thank you for your trust, support, and commitment to our cooperative. May God bless us all.

— Engr. Claudio M. Calugan
Chairperson, Board of Directors