The Camarines Norte Electric Cooperative, Inc. or CANORECO has a coverage area of twelve (12) municipalities, namely: Basud, Capalonga, Daet, Jose Panganiban, Labo, Mercedes, Paracale, San Lorenzo Ruiz, San Vicente, Sta. Elena, Talisay and Vinzons, divided into eleven (11) districts.
Prior to CANORECO’s organization on October 23, 1975, only 5,894 electric consumers mostly concentrated in the poblacion of Daet and some nearby municipalities were served by then Daet Electric Plant, a private power firm.
Attaining henceforth its legal personality with its registration with the National Electrification Administration (NEA), the government entity in charge of electrification program, CANORECO started its operation on May 15, 1976 as a non-stock, non-profit, non-sectarian, non-political association and service-oriented entity. The initial investment amounting to P11,638,000.00 under loan agreement dated November 5, 1975 granted by NEA to CANORECO was used to purchase the system of Daet Electric Plant. Out of this soft loan, P3.5M was paid to Hidalgo Enterprises. In the conversion from the private franchise to CANORECO operations, the Provincial Electrification Cooperative Team (PECT) composed of Eugenio Balon, Department of Education and Culture (DEC); Engr. Basilio Parale, Governor’s Office (GO); Orlando Lopez, Presidential Arm for Community Development (PACD) and Orlando Lopez,Community Affairs Office (CAO) finished the initial phase following the Memorandum Order No. 395 of President Ferdinand E. Marcos.After the PECT, CANORECO then was steered in its infant stage by men and women with vision, namely: Ernesto F. Jalgalado, Sr., President, Col. Camilo A. Balisnomo, Vice President, Milagros A. Estrellado, Secretary; Bayani C. Alejo, Treasurer; Atty. Jose T. Atienza, Francisco P. Timoner, Jr. and Francisco M. Garcia-Directors.The cooperative is managed by the Board of Directors which formulates and adopts plans and policies.
The coop has maintained a total manpower of 210 employees. The day-to-day operation and administrations of CANORECO lies in the management staff. Although the plantilla requirements is 229, the Coop maintains a warmbody of 210 employees. The coop has two (2) certified bargaining agents namely: CANORECO Labor Union of Supervisory Employees (CLAUSE) and CANORECO Rank and File Labor Union (CARFLU-AFWC) organized and registered with the Department of Labor and Employment.
The regular General Membership meeting is held annually to render annual reports specifically the financial conditions of the coop to the members and induction of newly elected district directors.
