One step closer: Razon wins Senate nod for Iloilo power firm
This bilyonaryo’s bid against a long-standing power provider may soon come into fruition.
Port handling giant Enrique K. Razon, Jr.’s More Electric and Power Corp. (MORE) may soon disrupt the power business in Iloilo after the Senate also approved a 25-year franchise for its operations in Iloilo City.
Razon has waged a word and business war with Panay Electric Co., Inc. (PECO), the longtime power distributor in Iloilo province, whom he questioned for inefficiency and exhorbitant utility fees.
The approved bill states that PECO will be allowed to operate its distribution system until MORE has acquired and established its own system, Inquirer said in a report.
The lobby is strong for Congress not to renew PECO’s franchise given these reported poor service offered by the power provider, which Razon said he can cure.