Friday 19 July
Feb 20, 2019 @ 11:37

EKR’s MORE gets 25-year franchise to power Iloilo City

 

President Duterte has signed a law granting billionaire Enrique Razon-led More Electric and Power Corp. (MORE) a 25-year franchise to distribute and supply power in Iloilo City.

The bill grants More a franchise to establish a reliable power distribution system in Iloilo that will ensure continuity and uninterrupted supply of electricity in the area.

This hopefully brings an end to the dispute between MORE and the Cacho family-owned Panay Electric Co. Inc. (PECO), the long-time power distributor in Iloilo.

Peco’s franchise expired on Jan. 18, 2019 but will continue to operate until the establishment or acquisition by MORE of its own distribution system.

“This provisional authority to operate during the transition period shall not be construed as extending the franchise of PECO after its expiration on January 18, 2019, and it shall not prevent the grantee from exercising the right of eminent domain over the distribution assets existing at the franchise area,” the bill said.

Razon earlier said he was ready to shell out as much as P2 billion to upgrade Iloilo City’s power utility and improve electric service reliability in the area.

Please follow and like us:
error

Tags: , , , , ,

Related Stories
The newly-elected Noveleta, Cavite mayor and president of Skyjet Philippines had a great time hanging
Just a day after ending his final term in the Senate, Gringo Honasan had a
Airline companies on Thursday agreed to use the Sangley airport in Cavite \ for general
President Duterte made sure to pay his last respects to Sendeng Loo Gaisano, the wife


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.