October 14, 2018 | 10:54 pm
THE ILOILO City business sector said
the investment climate is being hurt by uncertainty over an ongoing power
franchise renewal process, and called on Congress to select the provider that
will best serve consumer interests.
“Whatever decisions they come up
with, either PECO (Panay Electric Company, Inc.) or the new player, it should
always be to the advantage of the Ilonggos,” Iloilo Business Club Inc. (IBC)
Executive Director Lea E. Lara said.
The House of Representatives is
currently evaluating PECO’s renewal application, as its 25-year franchise is
due to expire in January. Hoping to take over the franchise is MORE Electric
and Power Corp. (MORE Power).
Ms. Lara said the IBC does not have
enough information to judge whether MORE Power could provide better service as
the company has not contacted the group to present its investment plan.
“We are vulnerable to this. In our
desire to replace PECO thinking it’s really the best plan, we ended up with a
company which is unknown to us. So it is really difficult to comment,” she
said.
PECO is facing complaints of alleged
over-billing.
MORE Power was previously MORE
Minerals Corp., a unit of Enrique K. Razon, Jr.’s Monte Oro Resources and
Energy, Inc. (MORE). Earlier this month, the new company’s officials briefed
the media on its technical, operational, and financial capabilities.
MORE Power’s franchise application
has been approved at the committee level and is now up for House plenary
deliberation.
“If ever there is a transition
period… it’s too difficult to comment as of the moment, we do not have enough
information,” Ms. Lara said.
Ms. Lara said IBC concurs with the
Iloilo Economic Development Foundation (ILED) that the franchise holder should
deliver world-class service to one of the country’s fastest-developing cities.
The Iloilo City Council has
authorized the city government to intervene in the House deliberations. — Louine
Hope U. Conserva
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