MORE Power Iloilo Preps Iloilo City for More Investors Power Demand: More Electric and Power Corporation (MORE Power Iloilo) President and COO Roel Castro recently presented updates of the distribution utility to the Iloilo City Council, last November 10. Included in the presentation are achievements of the DU in less than two years, which includes:
- Decrease in frequency of outages
- Decrease the duration of outages
- Decrease the illegals and pilferers
- Decrease the system loss
- Increase the number of consumers
- Increase the capacity of substations
- Increase the investment on capital facilities
- Increase the investment on human capital
- Increase the engagement with the community
- Decrease the total electricity rate
Ever since MORE Power came into play, Ilonggos have been benefiting from the distribution utilities’ modernization efforts, which include installation, replacement, repair, and maintenance of equipment and facilities; eradication of eyesores and spaghetti wires; aggressive campaign against power pilferage, and more.
MORE Power Iloilo Highlights
Starting 2020, MORE Power invests on substation load corrections, protections, and improvements. Part of the initial 1.9 billion pesos capital expenditures allocated by billionaire Enrique Razon to improve the reliability of power in Iloilo City in the first five years. Moreover, the Energy Regulatory Commission already approved the 1.3 billion pesos of the CapEx plan submitted by MORE Power.
One of the DU’s biggest contributions to the metro took place sometime in July, with a big drop on power rates. When MORE Power became an active participant in the trading of electricity (when its Banuyao Switching Station became operational), it enabled the DU to connect to the grid and greatly reduce power costs to its consumers.
Last July residential electricity rates (Php per kWh) went down to Php 6.4562, a dramatic 36% decrease from its previous Php 10.014 (June 2021). During this time, Iloilo had the cheapest power rate in major Visayas cities, beating Central Negros Electric Cooperative (CENECO) and Visayan Electric Company (VECO).
Although power rates increased last August (at Php 7.99 kWh), it went further back to Php 6.38 for the month of September. The subtle increase was due to the damaged submarine cable of the National Grid Company of the Philippines. Moreover, MORE Power was quick to rectify the issue.
Future plans were also bared. This includes a new Megaworld 30/36 MVA substation, uprating of City Proper Substation from 20 MVA to 30/36 MVA, rehabilitation of 25/30 MVA Molo Substation by deploying the new 36 MVA mobile substation. Related: MORE Power Iloilo: Read and Bill Method to Roll Out in Iloilo City Soon