MORE Electric and Power Corporation (MORE Power) of business tycoon Enrique Razon has applied for Php1.98 billion worth of capital expenditures (capex) with the Energy Regulatory Commission (ERC) to reinforce and expand its distribution network in Iloilo City.
Based on a Manila Bulletin report, MORE Power stated to the ERC that it plans to allot Php1 billion to major capex projects, while Php829 million would be earmarked for residual capex projects, and Php149 million would be set aside for non-network projects.
The utility firm asked the regulator issue “a provisional authority or interim relief authorizing and/or confirming the implementation” of the capex activities.
Among MORE Power’s big-ticket capital projects are the development of the 50/62.5 megavolt ampere (MVA) Megaworld gas insulated substation (GIS) and its associated sub-transmission and distribution lines worth Php449 million, the development of the 50/62.5 MVA General Luna substation valued at Php256 million, and a mobile substation for Php151 million.
Meanwhile, residual capital projects would include the replacement of various sub-transmission lines; replacement of breakers, disconnect switch, protective relays, control panels and various accessories; reconductoring of various distribution lines; new connections; replacement of defective meters; purchase of new distribution transformer; monitoring of system loss at secondary distribution system; and monitoring and testing of metering instrument transformer accuracy.
Among the non-network projects are building improvement; office furniture and fixtures; and engineering analysis tools.
The company said that it needs to implement the capex projects, which will directly benefit its consumers in terms of improved system reliability, stability and safety and improved customer services.
The firm added that the projects are reasonably priced since these were procured and implemented following the accepted practice of competitive bidding.
Photo from ASEAN Business Club website.