Iloilo City’s new electricity distribution utility More Electric and Power Corp. is spending close to P1.7 billion in the next three years to modernize the electricity distribution facilities in Iloilo City after securing the franchise from Congress in December last year.
MORE president Roel Castro said the investment would be spent for “system reliability projects, system loss reduction projects, system capacity projects and improvement projects.”
MORE has sought to expropriate all the ageing distribution network of Panay Electric Co. in Iloilo after President Duterte signed the former’s franchise into law. The franchise empowered MORE to take over all and any facility and property it needs to ensure Iloilo City and nearby municipalities have continuous and assured supply of electricity.