An Electric Cooperative is an incorporated, locally-owned, private, non-profit enterprise, democratically organized by a group of people supplying electricity to its members at the lowest possible cost. Neither NEA nor the government own and control it. However, NEA finances the cooperative through loans and it has supervisory and regulatory powers over it. The members at large elect directors, and as a board body, hires a professional manager that shall be responsible to them for co-op management.
NEA assists the management on a need basis. The assistance diminishes as the cooperative management becomes more experienced and independent.
In accordance with the Co-op By-Laws, policies of the cooperative are defined by the Board of Directors. The LEYECO V Board of Director is composed of eight (8) members representing the entire coverage area which is divided into eight (8) representative districts. The officers of the board are; President, 1st Vice-President, 2nd Vice-President, Secretary, Treasurer, and an Auditor.
The Board sees to it that the system is properly run and that policies adopted are carried out. While the Board is responsible to the members for the management of the co-op, it delegates the day-to-day management to the General Manager. The Board should direct through adopted policies what the manager should manage.
Leyte V Electric Cooperative, Inc. (LEYECO V) is the fifth electric cooperative organized in the province of Leyte, formally registered and incorporated with the National Electrification Administration (NEA) on December 21, 1977.
LEYECO V started its operation on August 1, 1979 after a series of preliminary inventories of the assets of the Aboitiz-owned Ormoc Electric Company (ORELCO), a private power franchise holder operating in Ormoc City.
LEYECO V assumed operations of ORELCO after the purchase of its facilities excluding the sale of its power plant. At that time, ORELCO then had only 21 kilometers of distribution lines and 2,736 consumers. In the initial stage of its operation and in addition to the power supplied by the Aboitiz-owned power plant in Ormoc City, it depended on the 3-megawatt power supply from the National Power Corporation’s NPC’s) geothermal power plant at Tongonan, Ormoc City.
LEYECO V is among the last to operate of the 119 electric cooperatives in the Philippines. It is tasked ahead to energize a potential of 74,220 household in the 417 barangays within its coverage area. This covers eleven municipalities and one city, namely: Merida, Isabel, Palompon, Villaba, Tabango, San Isidro,Calubi-an, Leyte, Matag-ob, Kananga, Albuera and Ormoc City.
With the abrupt demand for power, LEYECO V continuously upgraded its electric facilities in order to meet the demand of consumers. Today, it has a total combined power capacity of 52 MVA coming from the 20MVA substation in Simangan, Ormoc City; 10 MVA Talisayan, Albuera substation; 5 MVA Sambulawan, Leyte substation; 12 MVA Mahayag, Isabel substation and 5 MVA Tambis, Tabango substation. The current classification of LEYECO V according to the standards of the National Electrification Administration is Category A+, Extra-large co-op.
Presently, the cooperative employs 194 personnel serving 83,490 member-consumers with 88,805 households and establishments connections in 414 barangays. In ratio, each employee is serving at least 430 member-consumers. From the first 21 kilometers of distribution lines in 1979, LEYECO V now maintains 1,201 kilometers of electric distribution lines saturating even the most remote areas within the coverage.
The cooperative’s main office is at Brgy. San Pablo, Ormoc City. It maintains 4 collection centers; namely: the Ormoc, Tabango, San Isidro and Calubian service centers, satellite collection offices in every municipality and e-collection centers in its coverage area.