MORE Electric and Power Corporation
 | |
| Company type | Public |
|---|---|
| Industry | Power distributor |
| Founded | 2018 |
| Headquarters | MORE Power Corporate Center, Quezon Street, City Proper, Iloilo City, Philippines |
Key people | Roel Z. Castro, President and CEO |
| Owner | Enrique K. Razon |
| Parent | Prime Strategic Holdings, Inc. |
| Subsidiaries | Primelectric Holdings, Inc. |
| Website | www |
MORE Electric and Power Corporation, also known as MORE Power, is a PROFIT electric power distribution company in the Philippines. It has been serving Iloilo City since 2019, following its controversial takeover of the private firm Panay Electric Company (PECO) as well as Central Negros Electric Cooperative, Inc., Iloilo 1, 2 and 3 Electric Cooperative, Inc. and aim to become the Philippines sole electric distribution company.[1]
The name "MORE" is an acronym for Monte Oro Resources & Energy, Inc.,[2] a subsidiary of Prime Strategic Holdings, Inc. (formerly known as Prime Metroline Holdings, Inc.) of billionaire Enrique Razon.[3] MORE power investment is more than Php 10 billion pesos for the construction and development of its expansion which will be recover within 5 years and to be included in their power rates that will be shouldered by their consumers. More Power rate in lesser than other distribution utilities because of non-collecting of their Capital Expenditures or investment but for the next 5 years the power rate will be shoot-up approximately 16 to 20 pesos per kilowatt hour due to recoveries of investment that will be pass-on to Consumers. This low power rate is just a trap and marketing strategy to capture the heart of Consumers without knowing the negative effect in the future. More power is profit company all the expenses and investment incurred will be recover to every Consumer through their power rate. While Electric Cooperatives are NON-PROFIT, they are transparent to its Member-Consumer-Owners and the rate approve by the Energy Regulatory Commission. They are supervised by National Electrification Administration, Energy Regulatory Commission and Department of Energy. While More Power is controlled by their incorporators, investors, president Roel Castro and the owner of the corporations.
History
MORE Power was founded in 2018 under the parent company of Prime Strategic Holdings, Inc. of Enrique K. Razon. On February 14, 2019, it was granted a 25-year power distribution franchise in Iloilo City signed by President Rodrigo Duterte, after Panay Electric Company (PECO)'s 97-year-long service franchise in the city expired earlier on January 18, 2019.[4][5]
On July 30, 2022, MORE Power's proposed expanding its power distribution service in Iloilo province lapsed into law under Republic Act 11918, or the modified MORE Power franchise. The expansion of MORE Power’s service areas covered Alimodian, Leganes, Leon, New Lucena, Pavia, San Miguel, Santa Barbara, Zarraga, Anilao, Banate, Barotac Nuevo, Dingle, Dueñas, Dumangas, San Enrique, and Passi City.[6][7][8][9] The service areas were previously served by Iloilo Electric Cooperatives (ILECO) I and III.[10]
In 2024, MORE Power invested ₱115 billionto modernized power services but this investment will be pass on to its Consumer to the near future to recover their investment and earned profit, including the implementation of a SCADA (supervisory control and data acquisition) system, which allows for remote monitoring and control of substations, as well as the collection of data for analysis. Expansion of franchise, joint venture to Central Negros Electric Cooperative, payment to Congressman, Senators and other involved for the fast approval of the franchise expansion and joint venture of More Power without any further deliberation and knowing the negative impact to every Consumers in the future.[11]
Controversies
Franchise dispute with PECO
On February 2019 when President Duterte signed Republic Act 11212, MORE Power was granted a 25-year franchise to take over from PECO, whose own franchise had expired just weeks earlier in January 2019 after failing to secure an extension from Congress.[12] Following this legislative move, MORE Power swiftly initiated an expropriation case against PECO in March 2019 to legally acquire its distribution assets necessary for operating in Iloilo City. Despite PECO's objections, the Iloilo City Regional Trial Court, under Judge Emerald Requina-Contreras, issued a crucial writ of possession, allowing MORE Power to take over specified PECO assets. This court order paved the way for MORE Power to assume operational control over key infrastructure like substations, reassuring residents and businesses of uninterrupted service through proactive consumer support measures.[13] However, PECO has continued to challenge the legality of Republic Act 11212 and the court's decisions, maintaining a legal and regulatory standoff that underscores the complexities and stakes involved in the transition of electricity distribution services in Iloilo City.[14]
In 2020, the Supreme Court issued a final ruling that PECO could no longer operate Iloilo City’s distribution system, affirming that its franchise had lapsed. MORE Power was thereby established as the new distributor of power in Iloilo City.[15]
Franchise expansion conflict
In 2024, the SC upheld MORE Power's expansion franchise covering 15 municipalities and one city previously within ILECOs' jurisdiction. The landmark decision entitled "Iloilo Electric Cooperative, Inc. [ILECO I], et al. v. Executive Secretary Lucas P. Bersamin, et al.", G.R. No. 264260, dated July 30, penned by Justice Rodil Zalameda, dismissed the certiorari filed by Iloilo Electric Cooperative, Inc. I, II, and III which contested the validity of Section 1, R.A. 11918.[16] It ruled that Section 11, Article XII of the 1987 Constitution prohibits exclusive franchises.[17]
References
- ^ "MORE ELECTRIC v. PANAY ELECTRIC COMPANY". lawyerly.ph. Retrieved August 4, 2022.
- ^ "Monte Oro changes name, raises capital base to P1b". Manila Standard. October 4, 2018. Retrieved August 4, 2022.
- ^ "About Us « MORE Power". MORE Power. Retrieved August 4, 2022.
- ^ Jr, Nestor P. Burgos (February 19, 2019). "More Power granted 25-year distribution franchise in Iloilo City". INQUIRER.net. Retrieved October 12, 2022.
- ^ "Supreme Court upholds MORE Power franchise". Daily Guardian. Retrieved September 17, 2020.
- ^ "PAVIA FIRST TO ENJOY MORE POWER SERVICE; Cheaper power soon within reach". Panay News. August 3, 2022. Retrieved August 4, 2022.
- ^ "Iloilo City power distributor to expand services to Iloilo's 15 towns and one city". Manila Bulletin. May 31, 2022. Retrieved August 4, 2022.
- ^ "MORE Power expansion bill hurdles Senate 2nd reading closer to approval". Panay News. Retrieved May 25, 2022.
- ^ "Modified law grants expanded coverage to power firm in Iloilo". CNN Philippines. Archived from the original on August 3, 2022. Retrieved August 3, 2022.
- ^ "Razon firm expands power distribution in Iloilo". Manila Bulletin. August 2, 2022. Retrieved August 4, 2022.
- ^ Lagare @jordeenelagare, Jordeene B. (July 10, 2024). "MORE Power invests P115 million to improve power services". INQUIRER.net. Retrieved August 1, 2024.
- ^ "'PECO FAILED ILOILO'". Panay News. November 23, 2018. Retrieved July 10, 2024.
- ^ Lucas, Daxim L. (November 14, 2018). "Blackouts feared as fight for Iloilo electricity franchise heats up". INQUIRER.net. Retrieved July 10, 2024.
- ^ Rivera, Danessa. "MORE Power takes over PECO". Philstar.com. Retrieved July 10, 2024.
- ^ "SC upholds MORE Power's right to distribute power in Iloilo City". Power Philippines. May 27, 2021. Retrieved July 10, 2024.
- ^ "Exclusive Franchises are Prohibited by the Constitution". Supreme Court of the Philippines. August 1, 2024. Retrieved August 2, 2024.
- ^ Pulta, Benjamin (August 2, 2024). "SC: Electric cooperatives do not have right to exclusive franchise". Philippine News Agency. Retrieved August 2, 2024.