CABANATUAN ELECTRIC CORPORATION was originally established as Samahang Magsasaka, Inc. (SMI) in 1910 to put an end to the monopoly of the palay threshing business in the town of Cabanatuan. It was a civic-minded business organization composed of 96 members with a start-up capital of P 10,000.00.
On March 8, 1919, by virtue of the enabling act of the legislature, SMI was granted a franchise to install, operate, and maintain an electric, light, heat and power system in Cabanatuan. Thus, the company embarked on a business that marked the beginning of many long years of difficulties and successes to the administration of SMI. When the term of this first franchise expired in 1960, SMI applied for a franchise renewal.
On June 19, 1961, the Congress of the Philippines by virtue of Republic Act No. 3118 approved the second franchise of SMI for another 50 years. Under the provisions of this Act, SMI has the sole and legal right to distribute and generate electricity in the City of Cabanatuan until the year 2011. In 1988, the corporate name “SMI” was changed to Cabanatuan Electric Corporation (CELCOR) to fully reflect the Company’s nature of business.
On June 17, 2008, the Securities and Exchange Commission (SEC) approved CELCOR’s application for extension of corporate existence for another 50 years, or until December 23, 2058. Subsequently, CELCOR’s extension and renewal of franchise for another twenty-five (25) years was granted under RA 9968 which was enacted on February 6, 2010.
The Corporation has 563 stockholders with a total subscribed shares of 59,695,692 as of December 2013. It distributes electric power to more than 60,000 customers in Cabanatuan City in all of the 89 barangays covered by the franchised area. As of December 2013, the Company’s total assets stood at P 1,636,626,059.81.
In 2010, CELCOR celebrated its centennial year joining MERALCO, San Miguel Corporation, and other companies that have been an integral part in the development and rapid progress in their chosen field of operation. Last January 16, 2014, the Company celebrated its 104th founding anniversary.
CELCOR was awarded by the BIR for its invaluable contribution to the task of nation building. It received Certificates of Recognition as One of the Top Corporate Taxpayers of the region in 2005, Top Revenue District Taxpayer (Corporate Category) in 2007, and in 2010 – One of Top Taxpayers of Revenue District Office No. 23B, Region IV and Top Revenue District Taxpayer (Corporate Taxpayer Category).
Electric operations consist of two (2) shifts, providing on-duty servicemen and radio operators who are available 24 hours a day, 7 days a week to meet the needs of the customers. Our service crew is composed of 56 electricians and linemen. In addition, 32 radio-equipped L-300 service vehicles, one Isuzu Elf, a ten-wheeler, two (2) manlift trucks, three (3) Hiab trucks, and a computerized radio and telephone room complement our crew to offer top-quality power servicing.
CELCOR’s main offices are located at Maharlika Highway, Barangay Bitas, Cabanatuan City. Collection offices, provided with queuing system, are strategically located at CELCOR’s commercial building in Burgos Avenue and at the main office in Bitas, Cabanatuan City. The Corporation also has different payment centers at the following commercial banks: United Coconut Planters Bank, Producer’s Bank, GM Bank, Veteran’s Bank and Robinson’s Bank. The offices in Bitas are open nine (9) hours a day, five and a half (5½) days a week. Our 24-hour phone numbers are 463-3974, 463-0505, 463-0811, 464-1797, 600-2414 and 463-0408, all of which are constantly manned by radio/telephone operators who efficiently transmit all the servicing requirements of the Company’s consumers to the service crews.
Celcor’s Centennial Celebration.