Just like the other 118 rural electric cooperatives nationwide, the Bantayan Island Electric Cooperative, Inc. (BANELCO) located at Balintawak, Bantigue, Bantayan, with telefax number (032)4609281, (032)4609112, (032)3525205, and E-mail address: banelcoonline@yahoo.com, derived its birth from the provisions of Republic Act 6038, Presidential Decree No. 269, and by Republic Act 1645. As provided also in the aforementioned laws, BANELCO exists primarily to effect total electrification in its coverage area, on an area coverage basis.
BANELCO was registered with the National Electrification Administration (NEA) on September 29, 1978, and granted franchise to operate an electric light and power for a period of fifty (50) years, with Certificate No. III, from August 15, 1984, in the areas comprising the three (3) municipalities. The interim Board of Directors of BANELCO was composed of the late Judge Rumoldo Fernandez as President, the late Mr. Valentin Pacina, Sr. as Vice-President, the late Atty. Ladislao Gerra as Secretary, Mr. Teresito Villacastin as Treasurer and the late Mr. Panfilo dela Peña as member.
With the release of its construction loan from the NEA in the amount of P10,080,000, the ceremonial first pole erection was made in January of 1983. This signaled the start of the construction of the distribution lines. Operation of BANELCO started with the energization of its backbone lines on December 08, 1983, which also energized simultaneously the three municipalities under its coverage area (Bantayan, Madridejos and Santa Fe) and fourteen other barangays
