Panay Electric Company (PECO) will be spending around P1.1 billion in the next 10 years for the advanced metering technologies, system upgrades, and overall improvement of its load network.

PECO Administrative Manager Marcelo U. Cacho said the bulk will be for the replacement of its 64,000 meters with the advanced metering infrastructure (AMI), which will allow consumers to monitor their electricity usage.

The  replacement of the AMI meters will take up to five years. So far, PECO has already started replacing around 4,000 of its currently deployed meters to its customers in Iloilo.

Cacho told reporters that the funding of the AMI meters will be P205 million. Global solutions expert in smart metering EDMI Limited are supplying the meters.

The remaining budget will be allocated for setting up new substations to meet the load requirements of their big customers such as Megaworld Corporation, Gaisano Capital Group and Westernland Property Development, Inc.

The next round of investments will be dedicated for “smart grid journey,” which they already started despite the Department of Energy (DOE) is still developing the rules.

Microgrids initially targeted in Palawan and Romblon are also being eyed by the electric cooperative. All renewable energy (RE) technology installations will be placed under its RE subsidiary Panay Alternative Energy.

The electric firm is also applying the net metering program, which enables end-users to produce their own electricity and inject any excess energy to the grid.