Senate public services committee chair Sen. Grace Poe said the energy industry would benefit from the entry of qualified private companies to deal with the nation’s challenges with power generation and delivery in provincial areas and other rural areas.
In a report by the Philippine Daily Inquirer, Poe cited the case of MORE Electric and Power Corporation, which obtained a congressional franchise in 2019 and now serves as Iloilo City’s sole energy utility.
The supply of electricity in Iloilo has substantially improved after ports magnate Enrique Razon Jr. superseded the Panay Electric Company.
Poe stated during a senate hearing on the performance of Northern Davao Electric Cooperative Inc. (NOREDCO) that private enterprises would be able to offer enhanced services if they were held accountable to their shareholders or had more capital.
Meanwhile, the president and chief executive officer of MORE Power, Roel Castro, said that the company has already invested over Php 1.5 billion in upgrading and modernizing the electricity distribution infrastructure in Iloilo.
According to Castro, by utilizing new electric meters and posts, and upgraded electric transformers and substations, the company successfully achieved a 90% reduction in power interruptions.
NOREDCO has been bearing the brunt of several complaints from both consumers and the local government following multiple power interruptions in the Island Garden, Samal City.
Poe suggested during the hearing that NOREDCO should seek more sustainable solutions to the issue rather than depending solely on power generators to meet the island’s energy issues.
Davao del Norte Gov. Edwin Jubahib told the senators that the failure of NOREDCO to provide a stable supply of electricity may drive out possible investors in their province.
