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Panay Electric Company, Inc., also known as Panay Electric or simply PECO, is an electric power distribution company in the Philippines.It served the City of Iloilo from 1923 until 2019, when its franchise service expired and MORE Electric and Power Corporation (MORE Power) controversially took over.
MORE Power was founded in 2018 under the parent company of Prime Strategic Holdings, Inc. of Enrique K. Razon.On February 14, 2019, it was granted a 25-year power distribution franchise in Iloilo City signed by President Rodrigo Duterte, after Panay Electric Company (PECO)'s 97-year-long service franchise in the city expired earlier on January 18, 2019.
Enrique Razon owns MORE Power (MORE Electric and Power Corporation or Monte Oro Resources) in Iloilo that replaced Panay Electric Company (PECO) as Iloilo City's sole power distributor in 2019 through a legislative franchise. [9]
Panay Electric Company (PECO) - First Holdings entered into a joint venture with the Panay Electric Company, Inc. (PECO) in March 1996 for the construction of a US 72 million diesel-fired power plant in Iloilo City. First Holdings acquired a 30 percent equity in PECO. In turn, PECO subscribed to a 30 percent equity interest in Panay Power ...
Pages in category "Companies based in Iloilo City" ... MORE Electric and Power Corporation; P. Panay Electric Company;
Panay Diesel Power Plant: Iloilo City: 74.9 1999 [22] [23] CELCOR Power Plant: Cabanatuan, Nueva Ecija: 26.5 1996 [23] Western Mindanao Power Corporation: Brgy. Sangali, Zamboanga City: 100 1997 Bauang Diesel Power Plant
This is a complete list of electric utilities in the Philippines. ... Panay; Panitan; Pilar; Pontevedra; President Roxas; ... Iloilo I Electric Cooperative ILECO I ...
LEYECO – Leyte Electric Cooperative; Meralco – Manila Electric Railway Company; Metrobank – Metropolitan Bank and Trust Company; MORE – MORE Electric and Power Corporation; NAPOCOR/NPC – National Power Corporation; NGCP - National Grid Corporation of the Philippines; PAL – Philippine Airlines; PANTELCO – Panay Telephone Corporation