The Capiz Electric Cooperative, Inc. (CAPELCO) conducted a referendum on electric cooperative’s conversion options last November 28, 2015 at Capiz Gym, Villareal Stadium, Roxas City.
With a turnout of 2165 member-consumers, 2084 voted in favor of the option to remain as non-stock, nonprofit cooperative under the supervision of National Electrification Administration (NEA), 32 chosen to convert as Stock Corporation under the Securities Exchange Commission (SEC), and 25 preferred to convert as stock cooperative under Cooperative Development Authority (CDA).
After the final canvass, the over-all referendum committee announced that CAPELCO will remain as non-stock, nonprofit cooperative based on the plurality of votes.
Prior to the referendum, series of consultations done in six CAPELCO area offices to inform and educate the member-consumers on the peculiarities and commonalities of the EC conversion options and its legal basis.
The conduct of consultations and a referendum on EC conversion options responded to the call of the law known as the National Electrification Administration Reform Act of 2013( R. A. 10531) and Department of Energy dept. circular that mandated all electric cooperatives to conduct such to evaluate the member consumers decision regarding the nature and structure of their electric cooperative.