- The loan feasibility and engineering study in connection with the organization of the first electric cooperative in Camarines Sur (CASURECO I) was prepared under agreement between the National Economic Council (NEDA) and the United States Agency for International Development (USAID) through PRO/ag #492-21290-095 and PRO/T #492-095-390111 dated May 16, 1969 and by contract # AID/ea90, March 28, 1969 between the USAID and the National Rural Electric Cooperative Association (NRECA).
- On August 17, 1971, the following municipalities were determined by the Provincial Electric Cooperative Team (PECT) as the primary area for conducting an Electric Cooperative Loan-Funding and Engineering Study: Libmanan, Cabusao, Pasacao, Pamplona and Gainza.
- The District Electrification Committees (DEC) were organized in the 5 municipalities in 1972. Later, the first Board of Directors was formed with the chairman of the 5 DEC’s as incorporators and members. Elected officers were: Francis T. Nacianceno jr., (Libmanan) President; Claro M. Veneracion (Pamplona) Vice President; Rolando P. Cabanos (Pasacao), Secretary; Emilio B. Asaldo (Cabusao), Treasurer; Prudencio C. Espiritu (Gainza) Director.
- CASURECO-I was registered and incorporated under RA 6038 on November 27, 1972 in simple but fitting ceremonies at Libmanan.
- The ₱ 12,876,600.00 (M) loan agreement between the National Electrification Administration and CASURECO was signed on January 23, 1973, which amount will be used for the construction of the backbone and distribution lines, including the headquarters facilities. Loan payable in 30yrs; interest 3%; and principal deferment -5 years on fist loan. An additional loan of ₱ 5,600,000.00 (M) was approved on June 1979, 3% interest per annum.
- According to feasibility study, CASURECO-I should have been operational by the time the NPC grid is energized and could fill the needs of the people. In view of the insistent demands of the prospective coop members and the board, however, the NEA authorized the construction of an Interim power plant to serve the “power hungry” people.
- On December 8, 1973 the first pole erection in Libmanan was held which marked the start of the construction of the distribution lines to the different municipalities and barangays.
- CASURECO-I was the first electric cooperative in the country to set the policy that prospective members must undergo a seminar before their application for membership could be acted upon. In other words “no seminar, no service connection” but at present we serve members without attending seminar due to NEA memorandum sent to coops. CASURECO-I has conducted 69 membership seminars as of March, 1982.
- The first municipality to be energized was Libmanan on January 12, 1974. All the 10 municipalities in the coverage areas are now being served by the coop. Energization dates follow:
|Libmanan – January 12, 1974
Pamplona – March 31, 1975
Gainza – May 23, 1975
Lupi – February 2, 1976
Camaligan – August 6, 1977
|Cabusao – December 27, 1974
Pasacao – March 31, 1975
Sipocot – September 30, 1975
San Fernando – March 12, 1976
Ragay – January 28, 1978
- It will be noted that five additional municipalities were added to the original coverage areas of CASURECO-I on January 7, 1974 namely: Sipocot, Lupi, Ragay, San Fernando and Camaligan.
- CASURECO-I was chosen as one of the sites of the pilot irrigation projects of the FSDC. Electrically driven the irrigation pumps are now serving the farmers in San Vicente, Danawan, Palangon, Malansad or we have 18 irrigation pumps in the coverage areas, industrial loads 63 as of February, 1982. The first to be energized was in San Vicente, Libmanan on May 23, 1975.
- December 12, 1975 – completion of the construction of the headquarters facilities on a 5 hectares lot at Barangay Puro-batia, LIbmanan, Camarines Sur. Cost of the buildings and other facilities : ₱ 2, 108,306.94(M).
- As part of NEA-CASURECO-I’s power use program, the San Miguel Bay and Ragay Gulf Fishermen’s Associations were formed. Cold storage will be constructed to serve the fishermen. On November 2, 1976, the CASURECO-I-NEA-San Miguel Bay Fishermen’s Association ₱ 2.3 million loan agreement was signed in Cabusao.
- The coop has employed the services of DCCD Engineering as its architectural and engineering consultants. It made the designs and plans of its distribution system and headquarters, and has rendered technical and other kinds of assistance to the coop.
- Construction of its distribution lines was partly constructed by force account and partly by contract with the Audion Electric.
- The first annual meeting of the members was held at the multi-purpose building on June 26, 1977.
- CASURECO-I tapped its distribution lines to NPC’s Luzon grid on July 22, 1977. A 5MVA sub-station is now serving the coop located at barangay Bahay, Libmanan. It changes the status from self-generating to NPC-tapped.