‘Iloilo City needs modern power distribution system’

By Lenie Lectura – August 25, 2020
from Business Mirror

The Iloilo Economic Development Foundation (ILEDF) said Monday that the lack of a stable power supply in the past years has lured away potential investors.

ILEDF Executive Director Francis Gentoral said the efforts of former Iloilo distribution firm Panay Electric Co. (PECO) were not enough to meet world-class standards that could have made power rates more competitive and acceptable to new businesses.

“Though PECO initiated some improvements, still they were not enough, not at par with the standards and requirements set to attract investments,” said Gentoral.

The ILEDF said the city needed a utility firm with “a demonstrated capability, track record, and financial capability to operate and maintain a distribution utility for a fast-growing metropolis; make significant investments in infrastructure; systems and technology; and human resources; and maintain a long-term commitment to Iloilo.”

Gentoral is hoping that the entry of the new power utility More Electric and Power Corp. (MORE Power) would modernize the city’s power distribution system. He also urged residents to support MORE Power’s P1.8-billion investment project.

MORE Power’s entry in Iloilo City last March brought down power rates to below P9 per kilowatt hour, the first time that the city’s power rates fell below P10 per kwh for two decades.

He said Iloilo city’s business sector is hoping the Supreme Court would not hinder the city’s progress by rendering a decision that could impact on the future of a modern, world-class power distribution system for the entire Iloilo region.

“ILEDF calls for unity in the face of the global health crisis and for PECO to accept the thing it can no longer change in order for the whole of Iloilo City to move forward and level up as envisioned by the city government,” Gentoral said.