SOCOTECO II board clarifies 'conditional' status of Ignite Power proposal

 

GENERAL SANTOS CITY — The South Cotabato II Electric Cooperative (SOCOTECO II) board clarified that its engagement with Ignite Power is not a final deal, labeling the current status as a "conditional acceptance."

Board President Elenito “Titing” Senit said the cooperative’s resolution does not constitute a binding contract. The potential joint venture and capital infusion remain subject to further negotiations and a review of specific terms.

"There is nothing yet final," Senit said in a recent radio interview. He noted that "non-negotiable" points from either party could still derail the proposal.

Any eventual agreement will require approval from member-consumer-owners through a referendum. Cooperative governance rules mandate member participation in major policy decisions involving external partnerships or structural changes.

Senit also clarified his role in the Technical Working Group (TWG) tasked with drafting the partnership's terms. While he presented the group's recommendations to the board as chairman of the Committee on Policy, he said he does not head the TWG.

The board's statement follows public scrutiny regarding transparency and the implications of private sector participation. Negotiations remain ongoing and are subject to regulatory considerations.

The Bantay Kuryente Movement (BKM) issued a statement Sunday calling for increased accountability regarding the board’s actions. The advocacy group characterized the move as a "controversial direct awarding" of a contract and welcomed growing public scrutiny over the transparency of the negotiations.

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