Panay Electric Company (PECO) will continue to distribute electricity in Iloilo City even if it fails to get approval for its certificate of public convenience and necessity (CPCN) extension application.
The city, according to PECO Administrative Manager Marcelo U. Cacho, will suffer if they cease their operations.
“We will not [stop]. Public interest is at stake, so we can not just stop,” he stressed.
Cacho said aside from the lack of experience in power distribution, More Electric and Power Corp. (MORE Power) also has no power distribution assets and facilities in the city.
PECO maintained that it will not sell its assets to its rival fim.
The applications of PECO and MORE Power for their CPCNs are both pending before the Energy Regulatory Commission (ERC).
Cacho said all hearings on their application were already done and they are just waiting for the ERC’s decision.
“We [had] already submitted all the evidentiary requirements so basically decision na lang sang ERC ang ginahulat.”
Cacho is expecting the ERC to release its decision early next month.
PECO’s existing CPCN is set to expire on May 25, 2019.
Meanwhile, there are still scheduled hearings on MORE Power’s application.
MORE Power President Roel Castro said last week’s hearing wherein PECO was supposed to be part of it was moved next week.
“Since they are the intervenor they will be heard kung what are the points for their intervention with regards to MORE Power application for CPCN,” he told IMT NEWS.
He’s confident that their application will be approved by the ERC.
“Once the CPCN is granted, we will have now the license then we can already have some of our preparatory activities,” said Castro.
Among the preparatory activities he cited is the conduct of information dissemination in city barangays.
The franshise of MORE Power to distribute electricity in Iloilo City was approved by President Rodrigo Duterte in Feb. this year.
MORE Power was formerly known as MORE Minerals Corp., a subsidiary of the Ricky Razon-Walter Brown-led Monte Oro Grid Resources (MORE).
Its rival PECO, the city’s sole power distributor for almost a century, applied for a 25-year extension of its franchise.
But its application remained pending at the House committee on legislative franchises.IMT