Iloilo city: The city now has a stable power grid and substantial excess capacity to fuel growth. MORE Electric and Power Corporation (MORE Power) president and chief executive officer Roel Castro made the assurance during the recent membership meeting of the Management Association of the Philippines (MAP) in Iloilo City, according to a news release on Monday.
According to Philippines News Agency, Castro highlighted that since MORE Power's entry in 2020, electricity demand in Iloilo City has been on the rise. The utility company has nearly doubled its customer base over five years, expanding from 62,000 accounts in 2020 to approximately 115,000 today. Castro acknowledged that MORE Power inherited an outdated system, which necessitated a robust five-year investment program focusing on critical assets like substations.
Castro stated, "After this year, we will be ahead of the curve. This means that Iloilo's electricity or power infrastructure will already be above the curve, which means that Iloilo will be ready for investment. We would be confident and not be afraid of any investment that would come, and that would require power." During his presentation, Castro emphasized that system loss, a vital metric for utility performance and cost efficiency, has been reduced from 30 percent to 4.75 percent. Furthermore, the frequency of power interruptions has decreased significantly from 18 incidents five years ago to less than two incidents now, offering businesses the reliability needed for modern operations.
These improvements are underpinned by a fully operational Supervisory Control and Data Acquisition system across the franchise area, enabling real-time grid monitoring and control. The utility is also preparing to enter the next phase of modernization with the introduction of automated metering.
The Management Association of the Philippines, consisting of top and senior executives from a wide array of the country's largest companies, provided a fitting platform for Castro's message on Iloilo's readiness for investment. The association's membership meetings, which feature prominent figures from both government and private sectors, facilitate discussions on critical national issues and economic development.
