MECO incurs over P400M in losses due to Odette
Engr. Gilbert Pagobo, senior vice-president and general manager of MECO
LAPU-LAPU CITY, Philippines — The Mactan Electric Company (MECO) has recorded an initial loss of P400 million caused by super typhoon Odette in December 2021.
Engr. Gilbert Pagobo, senior vice-president and general manager of MECO, confirmed the information in a press briefing on Thursday, February 3.
Pagobo said that the damages incurred by the power utility include fallen posts, cut electrical wires, damaged transformers, among others.
Although the company will receive an amount from the insurance, Pagobo said that the amount cannot cover all the losses that they incurred.
“Naa mi insurance pero pila ramay insurance? Dili man gani kaabot bisan katunga sa damage,” Pagobo said.
MECO, however, will wait for the decision from the Energy Regulatory Commission (ERC) on how they would recover the losses.
When asked if they will pass the company’s expenses to the bill of their consumers, Pagobo said that it would be premature for him to answer the question and that it would be better to wait for the decision of the ERC.
Pagobo clarified that they cannot just decide to pass their expenses to the consumers without the approval of the ERC.
“Human ani kung ma-normal na, pahibaw-on man namo si ERC sa among nagasto, unsa among na-damage, pilay among nakolekta sa insurance, unya mao sad ni ang basihan kung unsay form of recovery nga ilang ihatag dinhi sa amoa,” he added.
MECO serves the entire island of Mactan, including Olango Island, and the municipality of Cordova. /rcg
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