Casureco inks supply deal with Psalm Corp.




The Manila Times

Corporate News

THE Camarines Sur II Electric Cooperative Inc. (Casureco2) has entered into an agreement with Psalm Corp., a new power supplier, as announced by its general manager Emelita Candia. The power supply agreement aims to provide 10-megawatt power supply across Camarines Sur with a much lower generation cost that is around P5.00 per kilowatt-hour. It is expected to lower power rates of the electric cooperative which will take effect within the first quarter of this year. This will increase the electric cooperative’s efficiency of operations, its reliability and safety. It will allow it to meet the load requirements of the planned industrial park in the vicinity as well as other new customers and also supplement existing load capacity. Casureco2 is expected to generate 10,000 new customers in the next five years. Casureco is the biggest electric cooperative in the province since its establishment in 1980. Camarines Sur I Electric Cooperative Inc. (Casureco1) is the first electric cooperative in the province of Camarines Sur, and was incorporated and registered with the National Electrification Administration pursuant to Presidential Decree 269 and as amended by Presidential Decree 1645.