More Electric and Power Corp. (MORE) said it is spending close to P1.7 billion in the next three years to modernize the electricity distribution facilities in Iloilo City.
MORE secured a distribution utility (DU) franchise from Congress in December last year.
Roel Castro, MORE president, said the P1.7 billion will be utilized for the improvement of system reliability, systems loss reduction and systems capacity as well as for safety improvement projects.
MORE and the former DU in the city, Panay Electric Cooperative (PECO) are in a legal tussle over the power distribution franchise.
Castro said MORE sought to expropriate all the ageing distribution network of PECO in Iloilo after the former has secured the franchise and was authorized to take over all and any facility and property it needs to ensure Iloilo City and nearby municipalities have continuous and assured supply of electricity.
PECO head of public engagement and government affairs, Marcelo Cacho was earlier quoted as saying it was spending of P1.1 billion in the next 10 years for the construction of three substations as well as for the deployment of smart meters.