Peco touts P1.1-billion innovation spending on power in Visayas
By Lenie Lectura -October 24, 2019
from Business Mirror
THE Panay Electric Co. (Peco) has earmarked P1.1 billion for its innovation spending aimed at building and promoting sustainable energy practices in Visayas.
Peco Head of Public Engagement and Government Affairs Marcelo Cacho said in a press briefing that the Iloilo-based power distributor will put up three new power substations to cater to the growing demand in Visayas.
“We estimate that in the next 10 years it’s about P1.1 billion. There will be new substations dedicated to Megaworld, Gaisano and Western Land,” said Cacho.
“For Megaworld’s substation, it will be the biggest substation we will be putting up because it’s a 70-hectare development that will cost P135 million. The Gaisano substation is about P70 million to 80 million, and the Western Land is about the same. The rest will be spent for smart meters and other equipment,” he added.
Cacho said Peco has initiated a few innovations in energy distribution that will ultimately benefit our customers. “While the future of energy is in the power choice, the good news is that the future is now starting to happen here in the Visayas, particularly in Iloilo.”
Peco has launched its Smart Metering project, the benefits of which to customers include prepaid metering, real-time wireless meter reading, automatic disconnection and reconnection, and an overall lowering of rates due to customer load profiling.
“Smart Metering also empowers the customers through an online Web portal where they can see their meter readings real time, with meter reading updates every 15 minutes, we are now testing the online portal which will be launched next year,” he said.
Some 2,000 smart meters have already been installed and another 2,000 will be delivered within the year. The company has earmarked P205 million for the next five years to replace old meters into smart meters.
Cacho also reported that Peco has introduced Net Metering, in which power consumers can install solar panel systems in their homes. With this, the consumers can throw back to Peco any excess power generated by their solar panels which will then be credited to their regular electricity bill.
“Our Net Metering system further gives our consumers the power of choice, because now they can choose to generate their own electricity and save money in the process,” Cacho noted.
Peco is also on board with the Department of Energy (DOE) smart grid project. “A smart grid is an electric system enhanced with innovative digital technologies that detect problems in the system and initiate self-healing processes,” Cacho explained. “With the smart grid, consumers can experience improved reliability, better service and greater control over their energy use.”
Another Peco innovation in energy distribution is the “Pasa-Kuryente” service, which allows solar panel owners to pass on to other consumers any excess power their system has generated.
“We just started Pasa-Kuryente this month. These are just some of the initiatives that Peco has done for the Ilonggos,” Cacho noted. “But we’re not stopping there, because we believe that the people of Iloilo deserve a dynamic kind of service that is improved and enhanced as the years go by,” he added.
Iloilo-based PECO was earlier allowed by the Energy Regulatory Commission (ERC) to continue distributing electricity up to two years to ensure uninterrupted supply of electricity in Iloilo City. The provisional Certificate of Public Convenience and Necessity (CPCN) issue to Peco is valid until More Electric and Power Corporation (MORE), the legislative franchisee, has established and can fully operate its own distribution system.
“The future of energy is when everybody is empowered to produce their own energy. We need the power of choice to move forward. Energy consumers should be able to choose the type of power they want to use–be it solar, natural gas, hydro, or coal–how much their electricity costs, and from whom they want to get it,” said Cacho, while adding that PECO is committed to contributing to the community’s socioeconomic progress by providing excellent service to the public in a reliable and safe manner and at the least possible cost.
