DUE to alleged various controversies hounding the Panay Electric Company (PECO), the More Electric and Power Corp. was given the opportunity to secure a legislative franchise from Congress.
This was stressed by business tycoon Enrique Razon Jr., who is behind More Electric and Power Corp. in the pursuit of better and cheaper electric service for Iloilo City residents who are currently being serviced by PECO.
“If PECO had been doing a good job, we wouldn’t have had the opportunity to apply for this franchise and transform it into a modern, efficient, low cost and state-of-the-art distribution network.
PECO is No. 20 in the list of distribution utilities in the Philippines. “Given that its franchise area is a compact and contiguous urban area, it should have been in the top 5 or top 10,” Razon explained.
The Energy Regulatory Commission (ERC) allegedly has been receiving complaints since 2017 mostly over alleged improper billing and poor customer service that PECO vehemently denied.
“Clearly, it is time that the Ilonggos are relieved of their misery,” Razon stressed.
On allegations that MORE Electric and Power Corporation is a new company, Razon said the firm is beyond comparison to PECO because MORE has a track record of having a start-up and large scale projects that is not only in the Philippines but also in the entire world.
“They behave like the franchise as a birth right. It is a privilege, not a right,” Razon pointed out.
Razon also underscored the need to put an end to the complaints of high generation charges against PECO for consumers’ interests.
“This is clear evidence that PECO has not made any meaningful investments in their facilities for decades,” said Razon.
He also pointed out the alleged failure of PECO to modernize their facilities to make it more competitive.
“These have resulted in frequent power outages and service interruptions,” Razon said.