Iloilo electric distributor MORE Power, through Primelectric Holdings Inc., recently signed a joint venture agreement to expand its Visayan market coverage with Central Negros Electric Cooperative or CENECO.
The tie-up aims to help CENECO, which serves over 200,000 customers, improve its power supply and distribution services.
MORE Power president Roel Castro said the company's expansion is anchored on well-crafted and carefully calibrated tactics.
"To put it in proper perspective, our expansion to Bacolod was asked by the consumers so it was not like we just wanted to take over the city. I would like to focus on our commitments here in Iloilo. The expansion was led by the clamor of the people," Castro said.
MORE Power's expansion to Bacolod City in Negros Occidental was a response to the clamor of consumers for better services.
Utility competition
"This will be the first time in the Philippines that two franchises in an area will compete and Congress wants to see if it will be good or not good. We initially invested P1.5 billion. I would say that initially, it will connect us to 15 areas, but it will still depend on the take up of the demand," Castro explained.
"So right now, we are not yet looking for another expansion because we will finish Bacolod first. There is still a long way to go, we still have Congress, we still have ERC, and then there is more before the actual takeover," he added.
MORE Power initially earmarked P4 billion to modernize the system of its newest partner, CENECO.
