Manila Standard Today
By Butch Gunio Posted on Mar. 12, 2013 at 12:01am
Olongapo City — President Benigno Aquino III last week signed a 25-year franchise to operate the local power distribution system to the Olongapo Electricity Distribution Company, Inc, (OCED).
The measure was approved by Congress early this year.
The franchise, also known as Republic Act No. 10373 gives the distribution firm the right to “construct, install, establish, operate and maintain for commercial purposes in the public interest, a distribution system for the conveyance of electric power to the end-users in the city of Olongapo and its suburbs.”
The grantee is a wholly-owned company of the Cagayan Electric Power and Light Co. (Cepalco) who purchased the power distribution assets of the Olongapo City government. source
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