Economic Status

Topics: Enterprise resource planning, Supply chain management / Pages: 8 (1997 words) / Published: Oct 21st, 2012
BACKGROUND OF SURNECO, INC.

The Surigao del Norte Electric Cooperative, Inc. (SURNECO) was formally incorporated and registered with the National Electrification Administration (NEA) on September 24, 1977. After obtaining a Php13.5M with NEA, it took over the ownership, management and operation of the Surigao del Norte Electric Company in Surigao City which was owned by the Lumanlan after paying its assets, properties and franchise on June 26, 1978.

SURNECO’s coverage area includes Surigao City and 11 municipalities namely, Alegria, Bacuag, Claver, Gigaquit, Mainit , Malimono, Placer, San Francisco, Sison, Tagana-an and Tubod. Its first energization ceremony was conducted on September 9, 1980 at Imelda Village Kaskag Terminal in Surigao City. It also energized its 11 municipalities and Surigao City from September 1980 to December 1981. The 100 percent energization of all the 203 barangays of SURNECO’s coverage area was attained in 2004. As of June 30, 2007 it has connected 49,568 households or 91 percent of its potential house connections of 54,298 with a total registered membership of 52,242. Its circuit kilometers of lines totaled to 1497.013 kilometers as of December 2006.

At present, SURNECO is classified by NEA as an extra large cooperative with 147 employees serving 43,7446 consumers with a monthly sales of 5,893,832.7 kilowatts or equivalent to Php33,596,516,32 in June 2007. It is catergprized as a Class “B” cooperative in 2004 from Class “E” and Class “D” in 2000 and 2001, respectively. Its loan with NEA in the total amount of Php100,516,736.76 was recently condoned by the government.

For its 30 years of operation, SURNECO received the following awards: 1) Attaining 100% Barangay Energization in 2004 and being Current in Amortization Payment, both awarded by NEA on May 27, 2012 in Tagbilaran City; 2) For being consistent member of Good Standing of CRECA Association since April 30, 2003, awarded by CARAGA Rural Electric Cooperatives,

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