MORE Electric and Power Corp. (MORE Power) has taken complete control of the distribution assets of the Panay Electric Co. (PECO) in Iloilo City.
Roel Castro, MORE Power president and chief executive, said the takeover of PECO’s distribution assets is in line with the writ of possession issued by the Ilolilo City Regional Trial Court (RTC) judge Emerald Requina-Contreras as implemented by the Iloilo City Sheriff’s Office.
Castro assured the city’s residential and business customers MORE will ensure continuous power supply in the city.
He said MORE has deployed reaction teams 24/7 to address complaints from consumers amid the takeover.
“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,” he said.
Judge Requina-Contreras granted the writ of possession (WOP) to MORE Power under the expropriation case it filed against PECO on March 11, 2019 after the former secured a 15-year franchise from Congress. The WOP was enforced on February 28.
MORE also was authorized to take over all distribution assets and other properties whether private or government-owned so it can distribute electricity in Iloilo City.
MORE Power said as of yesterday, March 1, it has so far take over the following: 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 the Molo substation (land, and buildings, machinery).
The company said it is ready to submit to the Iloilo City RTC its program for the complete takeover of the distribution facilities in the city, including the timelines on the transition period, accounting, turnover of records like the list of consumers, and documents relevant to the operation of the distribution system such as the inventory of personal properties under and inventory of real properties already under its possession.
For the purpose of the issuance of the writ of possession, RTC Branch 23 categorized PECO’s properties into three with a total value of P234,985,880.
