AND THE “dangling conversation” about “I Am Iloilo City’s” sole power distribution utility, MORE Power, continues as there’s simply so much positive things to talk about besides providing steady and reliable power supply for the city.
And this is what “I Am Iloilo City” Mayor Jerry Treñas has to say: “MORE Power is an
“indispensable partner” in the city’s development.”
I’m sure MORE Power President/CEO Roel Castro is not only smiling but blushing as well upon hearing our good mayor say that.
Really, let’s put some context on those lovely words of praise from Mayor Jerry if indeed MORE Power is an indispensable partner for the city’s development.
When it started operation in 2020, MORE Power sparked a transformative change across Iloilo City, impacting everything from the local economy to the everyday lives of its residents. The company’s focus on upgrading and stabilizing the power distribution network has not only reduced power interruptions but also fostered economic growth, as detailed in their five-year development plan and various analyses.
Take note, MORE Power inherited from the former distribution utility a system fraught with inefficiencies and high system loss rates, leading to frequent power outages. Since then, the company has introduced significant infrastructure improvements, enhancing the overall stability of the power supply.
One of the most notable achievements is the reduction of system losses from 30% to an astonishingly low of 5.42% as of December 2023. This reduction translates into substantial savings for consumers, injecting over P1.01 million back into the local economy through additional spending facilitated by the lower electricity charges. As of the latest, the system loss of MORE Power is at 4.5%, which is now at ERC cap.
MORE Power’s continuing anti-pilferage and system loss minimization, according to data analyzed from MORE Power and local economic indicators, show they contribute approximately P5 billion annually to Iloilo City’s Gross Domestic Product (GDP). The increased reliability of electricity supply has bolstered the city’s manufacturing and service sectors, which are heavily dependent on stable power supply.
According to an economic impact analysis, every peso spent by MORE Power generates an additional P1.28 in local economic output, indicating a potent multiplier effect. From 2020 to 2022, MORE Power’s operations are estimated to have added around P4.99 billion annually to the city’s economy, accounting for about 3.8% of the city’s average GDP over this period.
MORE Power has a tangible impact on the quality of life in Iloilo City. The power stability has prompted improvements in various service industries and has contributed to a more vibrant local economy with increased job opportunities. From 2020 to 2022, MORE Power’s operations indirectly supported the creation of approximately 6,693 jobs, thereby reducing the unemployment rate in the city by an average of 10.6% annually.
The enhanced power infrastructure has also improved the quality of customer service, a move praised by Mayor Treñas, who recognized MORE Power as an “indispensable partner” in the city’s development.
Moving on, as a testament to its commitment to Corporate Social Responsibility in addressing the pressing energy crisis in the Philippines, MORE Power has signed with SM Prime Holdings, Inc. the Interruptible Load Program (ILP). The agreement, inked on April 30, 2024, is poised to make significant strides in alleviating the strain on the Visayas grid, which has been grappling with yellow and red alert statuses due to thin energy reserves.
SM Prime, by voluntarily reducing their electricity consumption during peak hours or when grid stability is threatened, will play a pivotal role in stabilizing the energy supply and averting potential blackouts.
And we give the last words to “I Am Iloilo City” Mayor Jerry Treñas: “I am so happy with our power distribution utility, MORE Power, for their investments in Iloilo City. While there are issues in the supply at times, services have improved a lot. There are still challenges but together we will overcome them.”/PN
