BIZ BUZZ: Power shift in Iloilo

A significant change in Iloilo’s power landscape may be coming soon.

This, as the House of Representatives has approved on third and final reading House Bill No. 7647, a measure expanding the franchise of More Electric and Power Corp. (MORE Power), one of the many companies under the baton of tycoon Enrique Razon, the country’s richest person.

The bill now heads to the Senate, where lawmakers will decide whether the company’s reach will extend far beyond Iloilo City.

If enacted, MORE Power will be authorized to distribute electricity not only in Iloilo City but also in Passi City and at least 15 municipalities across the province, including Pavia, Santa Barbara, Leon, Alimodian, New Lucena, Zarraga, Banate and Dumangas. Coastal towns such as Guimbal, Miagao, Oton and San Joaquin are also included in the proposed expansion.

Those pushing for the immediate passage of the bill say the goal is simple: stable electricity.

The measure requires MORE Power to maintain a modern distribution system and ensure continuous power supply to consumers.

It also mandates broader Filipino ownership, requiring at least 30 percent of company shares to be offered to the public through the Philippine Stock Exchange within five years.