MORESCO-1 proudly congratulates its Board of Directors President, Nonito M. Labis, DVM, for once again, being re-elected DIRECTOR of the Rural Electrification Financing Corporation (REFC).
The REFC, established in 2000 through a collaborative effort involving NEA, PHILRECA, NRECA, and various institutions including USAID and IFC, serves as an alternative financing source for Philippine Electric Cooperatives. Conceived amidst a restructured and reformed electric power industry under the EPIRA Law (R.A. 9136), the REFC’s core mission is to provide supplemental loans to its Member-ECs at competitive lending rates. This support enables ECs to offer reliable, high-quality service while leveraging their equity capital.
Recognizing the additional support needs of its member ECs, REFC expanded its services by establishing the wholly-owned subsidiary, the Rural Electrification Trading Corporation (RETC). RETC is strategically designed to enhance loan packages and provide technology-driven, cost-effective materials, equipment, consulting, and other essential services, with financing support from REFC.
Together, REFC and RETC are committed to becoming the preferred service providers for Philippine ECs, offering assured funding and tailored services. This collaboration not only supports the financial and operational needs of the investor-ECs but also fosters the development of expertise in management, technical, financial, and institutional areas within the Rural Electrification Sector.
Manticao, Misamis Oriental — The Barangays of Digkilaan and Mahayahay of Manticao celebrated a significant milestone on Saturday, July 27, 2024, as the National Electrification Administration (NEA) and Misamis Oriental-1 Rural Electric Service Cooperative, Inc (MORESCO-1) conducted the Energization Ceremony of the Sitio Electrification Program (SEP). This initiative, aimed at fostering economic development and poverty reduction, strives for 100% sitio electrification across the nation.
This phase of the SEP brought electricity to Purok 6, Lower Digkilaan, and Sitio Migbalete in Barangay Mahayahay. The energization of these areas marks a significant step forward in improving the quality of life for the residents.
The SEP is a cornerstone of the government’s efforts to bridge the development gap in rural areas by providing electricity to unlit sitios, puroks, or zones. These territorial enclaves, often distant from barangay centers, have long faced challenges due to lack of access to reliable power. SEP funds the construction of distribution lines and house wiring facilities, ensuring that eligible households receive the benefits of modern energy.
The ceremony was attended by key officials from MORESCO-1, local government representatives, and community members. Manticao Mayor Stephen S. Tan emphasized the transformative power of electricity in fostering economic activities and improving living standards. “Electricity is not just a commodity; it is a catalyst for growth and development. By lighting up these communities, we are igniting hope and paving the way for a brighter future,” he stated.
Vice Mayor Roberto M. Lagrosas reflected on the early days of MORESCO-1’s missionary electrification efforts in the 1960s, highlighting the cooperative’s long-standing commitment to the government’s electrification goals.
MORESCO-1’s Director for District 2 (Manticao), Engr. Dominique C. Asok, mentioned that the mission of SEP is to reach every household, no matter how remote, and provide them with reliable and sustainable energy solutions.
Residents of the newly electrified sitios expressed their joy and gratitude during the ceremony. “This is a dream come true for us,” shared Johnny H. Bahian, Digkilaan’s Punong Barangay. “With electricity, our children can study better at night, and we can explore new opportunities for livelihood that were previously impossible. But we must also take care of the facilities and lines constructed by MORESCO-1 to bring electricity to us.”
The Sitio Electrification Program continues to be a beacon of progress for many underserved communities across the Philippines. The successful energization of sitios in Manticao stands as a proud testament to the positive impact of this initiative on the lives of Filipinos. — (CPRO Jiggs Pacana)
Manticao Mayor Stephen S. Tan emphasized the transformative power of electricity in fostering economic activities and improving living standards. “Electricity is not just a commodity; it is a catalyst for growth and development. By lighting up these communities, we are igniting hope and paving the way for a brighter future,” he stated. Vice Mayor Roberto M. Lagrosas reflected on the early days of MORESCO-1’s missionary electrification efforts in the 1960s, highlighting the cooperative’s long-standing commitment to the government’s electrification goals. MORESCO-1’s Director for District 2 (Manticao), Engr. Dominique C. Asok, mentioned that the mission of SEP is to reach every household, no matter how remote, and provide them with reliable and sustainable energy solutions.
Manticao, Misamis Oriental Wednesday, JULY 24, 2024— The vibrant community of Manticao recently celebrated a significant milestone as the National Electrification Administration (NEA) and Misamis Oriental-1 Rural Electric Service Cooperative, Inc (MORESCO-1) conducted the Energization Ceremony of the Sitio Electrification Program (SEP). This initiative, aimed at fostering economic development and poverty reduction, promises to illuminate the lives of many by striving for 100% sitio electrification across the nation.
The SEP is a cornerstone of the government’s efforts to bridge the development gap in rural areas by providing electricity to unlit sitios, puroks, or zones. These territorial enclaves, often distant from the barangay centers, have long faced challenges due to lack of access to reliable power. Through SEP, funds are allocated for the construction of distribution lines and house wiring facilities, ensuring that eligible households receive the benefits of modern energy.
This latest phase of the SEP has brought light to Purok 6, Communal in Barangay Pagawan and Purok 18 Sudlunon in Barangay Poblacion, both situated within the municipality of Manticao. The energization of these areas marks a significant step forward in improving the quality of life for the residents last Wednesday, July 24, 2024.
The ceremony was attended by key officials from MORESCO-1, alongside local government representatives and community members. In his speech, Manticao Mayor Stephen S. Tan emphasized the transformative power of electricity in fostering economic activities and improving living standards. “Electricity is not just a commodity; it is a catalyst for growth and development. By lighting up these communities, we are igniting hope and paving the way for a brighter future,” he stated.
Manticao Vice Mayor Roberto M. Lagrosas highlighted MORESCO-1’s commitment to the government’s electrification goals with his experience back in the 1960s when there was still no electricity in Manticao and majority of Misamis Oriental until MORESCO-1 started its missionary electrification to the place. The electrification of Purok 6 Pagawan and Purok 18 Sudlunon is a testament to our dedication to this mission,” VM Lagrosas remarked.
MORESCO-1’s Director for District 2 (Manticao) Engr. Dominique C. Asok mentioned that “the mission of SEP is not far from the original concept of “missionary rural electrification”- that is to reach every household, no matter how remote, and provide them with reliable and sustainable energy solutions.
Residents of the newly electrified sitios expressed their joy and gratitude during the ceremony. “This is a dream come true for us,” shared Fullbert E. Madroño, Pagawan’s Punong Barangay. “With electricity, our children can study better at night, and we can explore new opportunities for livelihood that were previously impossible.”
The Sitio Electrification Program continues to be a beacon of progress for many underserved communities across the Philippines. As NEA and its partners work tirelessly towards achieving 100% sitio electrification, the successful energization of sitios in Manticao stands as a proud testament to the positive impact of this initiative on the lives of Filipinos. (CPRO Jiggs Pacana)
