Photo from MORE Power Iloilo Facebook account.
MANILA, Philippines — Iloilo Economic Development Foundation (ILEDF), the city’s prime business group, has supported MORE Electric and Power Corp. (MORE Power) and its P1.8 billion modernization program, which aims to remove the inefficiencies of its distribution facilities.
In a statement on Saturday, ILEDF Executive Director Francis Gentoral said the business group is studying improvements to provide Iloilo City a utility firm with “a demonstrated capability, track record, and financial capability to operate and maintain a distribution utility for a fast-growing metropolis; make significant investments in infrastructure; systems and technology; and human resources; and maintain a long-term commitment to Iloilo.”
Gentoral said an enhanced power distribution system would also ensure “stable, continuous and cost-effective electricity supply” for business investors.
The ILEDF chief said he is optimistic that MORE Power, the new power service provider in the city, will also give way to a cost-effective power supply.
Gentoral cited that MORE Power immediately lowered power rates to below P9 per kilowatt hour (kwh), saying it’s “the first time that the city’s power rates fell below P10 per kwh for two decades.”