Panelco I is the exclusive franchise holder to operate an electric franchise holder to operate an electric light and power services in the City of Alaminos and Municipalities of Agno, Anda, Bani, Bolinao, Burgos, Dasol, Infanta and Mabini, all in the province of Pangasinan.
History of PANELCO I
Before the creation of electric cooperatives, small utilities were already operating in different towns in our archipelago only on a limited basis. In order to address these deficiencies, the government has mandated laws to provide the Filipino people adequate 24 hours electricity at a reasonable cost. On November 7, 1972, Presidential Decree No. 40 was promulgated which converted private municipal electric system to electric cooperatives under R.A. 6038
Later, by the virtue of Presidential Decree No. 269 by then President Ferdinand E. Marcos was issued mandating the total Rural Electrification of the country under the coverage concept. This area coverage concept allowed the construction of lines even at thinly populated areas.
With the determined efforts of former presidential Executive Assistant Jocobo C. Clave and former NEA Board of Administrator, Jesus Tanchanco, PANELCO I’s coverage area composing the towns of Agno, Alaminos, Anda, Bani, Bolinao, Burgos, Infanta and Mabini were included to serve a pilot Electric Cooperative.
On September 24, 1972, PANELCO I was organized. The Ad-Interim Board was composed of Mr. Arnulfo Cabrera (Bolinao) as President, who later became the General Manager; Atty. Quirubin U. Naraval (Agno) as Vice President; Mr. Pedro C. Elgin Colin (Anda) as Secretary; Mr. Severino C. Rativo (Bani) as Treasurer; Fiscal Romie V. Braga (Burgos) as Director; and Mr. Henry S. Ibarra (Dasol) as Director.
Through the initiative of Ad-Interim Board, the cooperative was incorporated on September 28, 1972 giving birth to the PANGASINAN ELECTRIC COOPERATIVE, INC. ( PANELCO I), under the control and supervision of the National Electrification Administration (NEA).
After the incorporation of PANELCO- I, which made the organization a distinct juridical personality, it was able to secure loan of P 11,856,000.00 for its capitalization on December 5, 1972. At that moment, the Coop geared for the real action to implement its avowed goal of servicing all towns under the coverage area of the Coop.
On March 10, 1993 PANELCO-I was provisionally registered with the Cooperative Development Authority (CDA) and extended the provisional registration until March 4, 2004.
The Provisional Authority was enforced as it was not cancelled nor abandoned until its permanent registration on July 19, 2006 wherein a Certificate of Registration was issued.
To date the Coop. is pursuing its total electrification program through the massive implementation of the Sitio Electrification Program (SEP) whose funding is from the subsidy of the Government.