More Electric and Power Corp. (MORE Power) is confident that President Rodrigo Duterte will not reject its franchise to distribute electricity in Iloilo City for 25 years.
Jonathan Cabrera, MORE Power spokesperson, said the “final version” of the bill granting their franchise was transmitted and received by the Office of the President on Jan. 16.
Once Duterte signed the bill into law, Razon-led MORE Power will take over Cacho-led Panay Electric Co. (PECO) that has been operating in the city for almost a century.
The Senate and Congress approved House Bill No. 8302 last year.
“We are hopeful that the President will approve our franchise,” Cabrera said.
The bill will automatically become a law if Duterte fails to act on it after 30 days from transmittal.
PECO’s franchise expired on Saturday, Jan. 19. Its application for franchise renewal is still pending at the committee level in Congress.
Under the approved bill PECO will be allowed to operate temporarily until MORE Power is in full operation to avoid power outages in the city.
In a previous report by IMT NEWS, PECO Corporate Communications Officer Mikel Afzelius said they would continue operating even if its franchise expires.
According to him, their Certificate of Public Convenience and Necessity (CPCN), which was issued by the Energy Regulatory Commission (ERC), is still valid.
“We will use that to operate,” Afzelius said.
PECO’s CPCN will expire on May 25, 2019.IMT