ILOILO CITY now has a stable power grid and substantial excess capacity to fuel growth.
Roel Castro, president and CEO of MORE Electric and Power Corporation (MORE Power) noted these during the recent membership meeting of the Management Association of the Philippines (MAP) in Iloilo City.
“We came in 2020 and our growth in electricity demand has been increasing,” Castro said. In five years, the utility nearly doubled its customer base, from 62,000 accounts in 2020 to approximately 115,000 today.
Castro observed that MORE Power inherited a system that was “a bit behind,” prompting an aggressive five-year investment program in critical assets like substations..
“After this year, we will be ahead of the curve. This means that Iloilo’s power infrastructure will be ready for investment. We would be confident in keeping up with any investment that would require power,” he said.
In his presentation Castro said that system loss — a critical metric for utility performance and cost efficiency — has been slashed from a high of 30 percent to 4.75 percent.
