Razon company invests P2.1B to boost Iloilo power supply
MANILA -A unit of Razon-led MORE Electric and Power Corp. plans to spend P2.1 billion to improve power reliability in Iloilo through the local electric cooperative, citing the city’s “inefficient” distribution system.
Primelectric Holdings Inc. president Roel Castro said the amount would be used to put up “cutting edge” and “top-of-the-line” systems for consumers in Iloilo, which is within the franchise area of Central Negros Electric Cooperative Inc. (Ceneco).
“We need to rehabilitate the system because if you don’t put in the additional P2-billion investment or more, you will be inheriting a distribution system that is just the same as now that is inefficient,” Castro said.
READ: MORE Power returns more bill deposits to Iloilo customers
This was among the issues raised during the evaluation by the National Electrification Administration (NEA) of Negros Electric and Power Corp. (NEPC), Primelectric’s proposed joint venture agreement with Ceneco, to boost power reliability in Iloilo.
Castro explained that the agreement would streamline the internal and external operations of Ceneco that he said was crucial in providing quality service to consumers.
System losses, metering rates
The P2.1-billion investment is likewise expected to reduce system losses, which would in turn lower distribution system and metering rates.
According to Primelectric and Ceneco, this is in line with the NEA’s goal to achieve 100 percent sitio electrification by the end of President Marcos’ term in 2028.
READ: Rural electrification goal may not be met
Primelectric first announced the joint venture agreement in June this year to address various issues hounding the Ceneco franchise area, including illegal power tapping amid tight supply.
Local officials had said that the partnership could “significantly improve” electricity supply. INQ
