San Miguel Energy Corp (SMEC) remained the sole bidder to operate Albay Electric Cooperative (ALECO). This was confirmed by the Department of Energy (DOE), the country's regulator. Aboitiz Energy Development Corp and Manila Electric Co earlier backed out of the bidding to manage the electric cooperative. The winning bidder would not only operate ALECO but also assume its PHP 4 billion debt .

DOE Secretary Jericho Petilla revealed that the board members of the electric cooperative would decide if the documents given to them by the San Miguel Corp unit conformed to the terms of reference. They would be giving their decision in less than two weeks. Before SMEC could take over the cooperative, however, residents of Albay would still need to give their approval as ALECO elected to still function as a cooperative. Electricity consumers in the province could also opt to have another cooperative manage ALECO. The National Grid Corp of the Philippines cut off ALECO from the grid last month because of its debts.