BENECO to Distribute ₱3.3M in SC Interest Earnings to MCOs This June
By: Laarni S. Ilagan
BAGUIO CITY — The Benguet Electric Cooperative (BENECO) announced that it will distribute ₱3,387,447.49 in interest earnings to 60,915 member-consumer-owners (MCOs) this June.
The release is scheduled to coincide with BENECO’s 45th Annual General Membership Assembly (AGMA). This marks the third consecutive year that the cooperative has returned earnings to its members, a practice that began in 2024. The current payout represents a significant increase from the ₱2.2 million distributed in 2025 and the ₱629,580 distributed in 2024.
Management attributed the growth to a strategic shift of placing MCO capital share contributions into premium-yield bank accounts instead of standard time deposits.
The program highlights the benefits of “member ownership.”
One notable example of the program’s success is a member from Engineer’s Hill, Baguio City, whose ₱352,000 capital contribution earned ₱18,550 this year—an increase from the ₱17,000 he received in 2025.
However, according to Benelita Linmipao, BENECO’s Accounting Officer under the Non-Network Services Department (NNSD), the gentleman from Engineer’s Hill is no longer the highest contributor as of October 1, 2025.
“The ₱702,000 contribution from another gentleman from Itogon, Benguet, and the ₱655,000 contributed monthly in various amounts by a lady senior citizen from Baguio City, have significantly surpassed the contribution from the gentleman from Engineer’s Hill,” Linmipao said.
Under Board Resolution No. 2026-047, earnings will be distributed proportionately based on the amount and date of a member’s capital share payment:
- Members who completed the minimum ₱2,000 capital share contribution by November 30, 2025, are eligible to receive their full share.
- For those below the ₱2,000 threshold, earned interest will be credited and applied once their capital share is fully paid.
- Amounts above ₱500 will be issued via check, while amounts below ₱500 will be applied as direct deductions from members’ power bills.
For transparency, BENECO General Manager Melchor Licoben emphasized that while the principal capital is reserved for future renewable energy projects, management remains committed to making the funds work for the members in the interim.
“This shows our consumers that we are not only safeguarding their money but also making it grow,” Licoben said. “Since the funds have not yet been utilized for projects, we recommended that the interest be returned to MCOs as a matter of transparency.”
BENECO also noted that checks remaining unclaimed for six months will automatically revert to the member’s share capital, increasing future earning potential. The cooperative encourages all members to complete their ₱2,000 contribution to enjoy full membership benefits and annual subsidies.
