CASURECO III CONCERNS RAISED PUBLICLY; BICOL LIGHT REAFFIRMS COMMITMENT TO COMPETITION, NOT PRIVATIZATION

CASURECO III CONCERNS RAISED PUBLICLY; BICOL LIGHT REAFFIRMS COMMITMENT TO COMPETITION, NOT PRIVATIZATION Camarines Sur Governor Lray Villafuerte clarified that the Bicol Light proposed franchise is not a plan to privatize or take over CASURECO III, but an effort to introduce competition and give consumers another choice in electricity service. The company said it plans to build its own lines, poles, and facilities using private capital, while CASURECO III’s existing franchise remains in effect until 2029. Bicol Light also raised questions about CASURECO III’s reported financial condition, including over ₱600 million in debt, ₱66.28 million in unremitted Universal Charges, and around ₱125.5 million in unpaid franchise taxes. It called for transparency, auditing, and reforms. The company also cited past operational problems and concerns over outages, electricity costs, and dependence on the spot market. Bicol Light proposed a plebiscite among CASURECO III member-consumers so they can directly express their position on the proposed franchise. Questions were likewise raised regarding possible conflicts of interest involving CASURECO III officials and individuals linked to its management and legal affairs. Bicol Light said these matters should be clarified through proper documents and transparent disclosure. At the center of the debate, Bicol Light stressed that the issue is competition, transparency, accountability, and consumer choice—not privatization. CASURECO III and the individuals mentioned are expected to provide their side regarding the allegations and figures raised.