PENELCO took the opportunity to present and discuss its accomplishment and the 5 year global competitiveness program/plan of the Coop, that would definitely improve it's power reliability and services to the member consumers.

The Financial presentation done by the PENELCO Auditor, Ms. Ellaine de Guzman showed historical data of PENELCO which became the basis of its projection in 5 years based on it's annual growth rate percentage.

As the financial data were shown, Mayor "Pambato" of Abucay apprehensively noted the low net margin of Penelco in year 2003 as compared to its very huge and impressive projects that it plans to undertake in 5 to 10 years. RGM Marcelino responded positively, taking into account, the incremental cost analysis of the project and informed the body that only half of the project shall be shouldered by Penelco and half of the project shall be loaned from DBP. Penelco according to RGM will surely and positively recover from its investment with its 5 year development plan since he and his staff really worked hard and made a thorough feasibility study for the project.

According to RGM, based on its feasibility study, these projects will surely accelerate the growth of its Household Connection, increase House Hold Consumption and decrease its system loss, thus provide additional income for the coop, sufficient enough to sustain the required investment. Other      topics/issues raised by some Mayors were the 10 days grace period of PENELCO in the collection and disconnection program, the imposition of Tax payment of PENELCO like Franchise Tax & Real Property Tax; and the Election of Board of Directors which were all given clear and detailed explanation by RGM Loreto Marcelino.