ILOILO CITY—The company that has been distributing electricity to this city and areas nearby for more than 90 years continued to fight a takeover bid by a newly formed power distribution firm but assured city residents there would be no disruption of power supply should its rival company’s takeover bid succeed.
Panay Electric Co. (Peco), which has been serving the city since 1923, continued to be firm on its stand that it should be given another 25-year franchise to distribute electricity in Iloilo City and other Panay areas.
“We are here for an extension,” said engineer Randy Pastolero, Peco vice president for operations.
“We are not for a transition,” Pastolero said in an earlier interview.
He reiterated the Peco stand against selling its assets to More Electric and Power Co. (More), a newly formed company owned by ports tycoon Enrique Razon.
Pastolero, however, gave assurance there would be no disruption in the supply of power in Iloilo City.
Dustbin
While the bill granting franchise to More has passed both legislative chambers, House Bill No. 6023, which seeks to extend the Peco franchise for another 25 years, has languished at the House, which is now under the leadership of former President Gloria Macapagal-Arroyo.
The bill, filed on July 22, 2017, yet by Camiguin Rep. Xavier Jesus Romualdo, has been pending at the House committee on legislative franchises since July 31, 2017.
The city government, according to Iloilo City Mayor Jose Espinosa III, was preparing contingency measures to ensure continued supply of power despite the conflict over franchise.
Espinosa said he planned to form a crisis management team to prepare for any eventuality.
Peco’s franchise expires on Jan. 18, 2019.
The team, according to the mayor, would be composed of representatives from different sectors and the city government.
Espinosa said this would help the city anticipate and prepare for any scenario.
Rush
On Nov. 26, the Senate passed on third reading a bill that granted More a franchise to distribute electricity in Iloilo City.
The bill was being sent to Malacañang for President Duterte’s signature.
The bill provided for a transition period to ensure uninterrupted power supply.
During this period, Peco would be allowed to continue to operate for not more than two years or until More was able to set up its own distribution system.
In an earlier interview, Roel Castro, More president, told city councilors that the company was ready to take over power distribution in the city. NESTOR BURGOS