MORE Electric and Power Corp. said its five-year development plan for improving power services in Iloilo City is near completion, just three years after starting operations in 2020.
Roel Castro, MORE Power president and chief executive officer, said in a statement the company hasr invested P1.5 billion to the modernization of the power distribution facilities in the region.
MORE Power has replaced old and dilapidated electric meters and wooden electric poles. It has upgraded transformers, rehabilitated substations and constructed new transmission and switching stations.
Castro said power interruptions have been reduced by 90 percent while overloading and illegal connections have been avoided. In turn, this led to a decrease in system loss that is passed on to consumers and reduced power rates.
Grace Poe, chair of the Senate committee on public services, said in a hearing last week the entry of private players like MORE Power can help in improving power services and prevent frequent power interruptions in the country.
Poe cited MORE Power’s case as an example of a successful venture in resolving the poor management of electric cooperatives and distribution utilities.
