Just today, power distribution Panay Electric Company was served with a ‘writ of possession’ issued by Judge Emerald Requina-Contreras of the Regional Trial Court Branch 23, allowing newcomer MORE Electric Company to take over PECO’s distribution assets.
By far, Marcelo Cacho of Panay Electric Company – present during the serving of the Writ of Possession – did not make any formal statement and refused to accommodate representatives. As of date, all substations are locked down. This includes the Molo Substation, La Paz Substation, Mandurriao Substation, City Proper Substation, and Jaro Substation.
“Let a Writ of Possession be issued to plaintiff More Power Corporation, in order to place MORE in possession of the enumerated properties above under categories A and B. The Sheriff of this court or other proper officer is hereby ordered to place the plaintiff in possession of the properties enumerated above under categories A and B. The Sheriff of this court or other proper officer is hereby ordered to place the plaintiff in possession of the property above enumerated and submit a report thereof to the court, with service of copies to the parties pursuant to Section 2 of Rule 67 of the Rules of Court,” excerpt from the Writ of Possession taped on the entrance of the Panay Electric Company building.
Category A includes properties that PECO did not contest as ‘distribution assets’, such as the Baldoza, La Paz Substation; General Luna, City Proper Substation; and the Tabuc Suba, Jaro Substation, among others having a total assessed value of Php 217,940,870.
Category B includes properties that the court initially deems as part of the distribution assets being listed under PECO’s distribution plant in the ERC record, and maybe necessary for MORE to have an uninterrupted operation once the writ is implemented. The properties include meter lab, power plant building, and switchboard housed within the General Luna PECO compound. The properties have an assessed value of Php 14,792,680.