More Electric and Power Corp., Iloilo City’s new distribution utility, has taken control of the distribution assets of Panay Electric Co.
MORE in a statement over the weekend assured the city’s residential and business customers of electricity supply and said it was deploying reaction teams 24/7 to address complaints from consumers.
MORE president and chief executive Roel Castro said the takeover of PECO’s distribution assets followed the writ of possession issued by Iloilo City Regional Trial Court Judge Emerald Requina-Contreras. The write was implemented by the Iloilo City Sheriff’s Office.
“In order to ensure continuity of services to the consumers of Iloilo City, MORE Power troubleshooters and line teams are mobilized to provide assistance as may be needed,” MORE said.
Judge Requina-Contreras granted the writ of possession to MORE under the expropriation case it filed against PECO on March 11, 2019.
MORE started the process of taking over PECO’s electricity distribution facilities as the new distribution utility of Iloilo City after securing a 25-year franchise from Congress in 2019.
PECO’s franchise expired on January 19, 2019 after failing to secure an extension from Congress amid numerous complaints from customers.
MORE, owned by billionaire Enrique Razon Jr., can take over the distribution assets of PECO under Republic Act No. 11212 signed on Febuary 14, 2019 by President Rodrigo Dutetre,
To date, MORE has taken over the Baldoza-La Paz substation (land including all machineries and improvements, buildings); General Luna substation (Meter Lab, Power Plant Building and Switchboard House); Tabuc Suba, Jaro substation (land, machinery); Bolilao, Mandurriao substation (land, buildings, and machinery) and Molo substation (land, and buildings, machinery) on Avanceña Street.
MORE said it was ready to submit to the Iloilo City RTC its program on the complete takeover of the distribution facilities in the city, including the timelines on the transition period, accounting, turnover of records and documents relevant to the operation of the distribution system.