The recently signed joint venture between MORE Electric and Power Corp. and the Central Negros Electric Cooperative Inc. or CENECO is aiming for 100 percent total electrification in the franchise area by 2028, MPRE parent Primelectric president Roel Castro said.

The goal is in line with the Marcos administration's agenda of achieving sustainable and inclusive economic growth.

Castro highlighted that the target P2.1 billion initial investment of MORE will be used as capex to bankroll cutting-edge and top-of-the-line systems for a better consumer experience.

"We need to rehabilitate the system because if you don't put in the additional P2 billion investment or even bigger, you will be inheriting a distribution system that is just the same as now that is inefficient. That's why we have to put (the investment) in P2.1 billion to start rehabilitating and improving the system," Castro said.

Primelectric and CENECO signed the JVA last 3 June purposely to improve the electricity services in Central Negros. The proposal received support from local leaders, the business sector and consumer groups.

Bacolod City Mayor Albee Benitez described the partnership as "a White Knight that would save our consumers from the looming disaster."