ILOILO CITY – More Electric and Power Corp. (MORE Power) is keen on expanding its electricity distribution business in Iloilo province as customers in nearby municipalities and cities clamor for its services.
Roel Castro, MORE Power president and chief executive officer, told reporters over the weekend that the company is allowed to distribute power in overlapping franchise areas on the basis of its legislated franchise.
Castro said the planned expansion will initially require investing P1.5 billion with the number of municipalities served subject to change depending on the take up of the demand.
“Just here in Iloilo, Congress has already granted us the expansion into the second and fourth districts (of the provinces) which covers 15 municipalities and one city,” he said.
According to him, the power firm has already laid out so-called primary lines in two municipalities and waiting for the release of the certificate of public convenience and necessity or the license from the Energy Regulatory Commission (ERC) to start serving the area.
MORE Power’s target expansion include that currently served by the Iloilo I Electric Cooperative who said the presence of two service providers is a test case of whether or not this “will be good or not good” for consumers.
MORE Power also said the joint venture agreement of affiliate firm, Primelectric/Negros Electric and Power Corp. with the Central Negros Electric Cooperative is expected to clear soon.
MORE Power has over 92,000 customers in Iloilo City served by substation capacity of 216.5 megavolt amperes.
Some 1,500 are considered key accounts or customers from the commercial and the city government, among others.
