By Mariela Angella Oladive
MORE Electric and Power Corp. (MORE Power) has assured Iloilo City residents and businesses that it is fully prepared to meet the city’s growing electricity demand.
MORE Power President and CEO Roel Castro said the company has experienced a significant rise in power demand since it took over operations five years ago, recording a compounded annual growth rate of about 13%.
“Just to make it very simple, when we came in, there were about 62,000 customers. Now we’re already over 100,000,” Castro said in a presentation at the City Hall on Monday.
Iloilo City Mayor Jerry Treñas requested a presentation from MORE Power to better understand the city’s increasing energy needs and how the company is addressing them.
“The mayor asked for a presentation on our growth because, over the past five years, our compounded annual growth rate has been approximately 13 percent. This increase is also reflected in the expected growth of other utilities,” Castro said.
INFRASTRUCTURE UPGRADES
To support Iloilo’s energy expansion, MORE Power has completed the rehabilitation of its 25/30 megavolt-amperes (MVA) Molo substation.
With demand continuing to rise, the company is also planning to build a new substation in Arevalo district.
In addition, substations have already been established in Megaworld and Diversion, while the Mandurriao substation is set for rehabilitation.
Castro said MORE Power has secured enough supply contracts to ensure stable electricity distribution, particularly during the dry season.
“So we have prepared, both on the contracting side for capacity as well as on the facilities,” he said.
Currently, Iloilo City’s power demand has exceeded 120 megawatts.
