The Palawan Electric Cooperative (PALECO) will begin distributing patronage refunds to member-consumer-owners (MCOs) from 2006 to 2017 by deducting the amount from their December 2022 consumption.

The deduction will be reflected in the January statement of account (SOA).

This action is based on General Resolution No. 02, Series of 2019, which requires MCOs to deduct patronage refunds and dividends from their monthly consumption. It was decided at the 2019 Annual General Membership Meeting.

“Ang patronage refund, o balik-tangkilik, ay isa sa mga benepisyong nakukuha ng isang miyembro ng PALECO bilang patuloy na pagtangkilik sa serbisyong ibinibigay ng kooperatiba,” PALECO explains in a statement.

Patronage refunds will be distributed by PALECO to MCOs with connections in Puerto Princesa. Those with town connections will receive their patronage refunds the following month.

The breakdown of patronage refunds every year can be seen on www.paleco.net by clicking the PALECO online. Then choose the ‘patronage refund’ in the dropdown and insert the complete account code seen in SOA. MCOs may also visit the link: https://paleco.net/paleco/patronage-refund/

An official receipt can also be requested from tellers in the PALECO office.

Meanwhile, PALECO will discuss the suggestion of the Cooperative Development Authority (CDA) on having a capital build-up program, which will only materialize through an additional dividend in shared capital. The suggestion was made after the inspection of CDA on November 21, 2022.

The interest to be saved on shared capital or dividends is one of the benefits that should be gained by an MCO of PALECO.

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is one of the senior reporters of Palawan News. She covers agriculture, business, and different feature stories. Her interests are collecting empty bottles, aesthetic earrings, and anything that is color yellow.