Sunday , November 29 2020

Billionaire opened against Iloilo rule

Billionaire port operator Enrique Razon opened fire on Tuesday at a publicly traded company, Iloilo City, to power its distribution company to fight electricity.

In a statement, Razon claims that Peco, Razon's one of its companies, is not suitable for operating an electric company, Panay Electric Co.

The Billionaire is the majority stakeholder of More Electric Power Corp., the beneficiary of a pending franchise bill in Congress.

Nitelik We definitely don't want to have the qualities of Peco, R Razon said.


. We are the opposite of Peco, because we have a successful record of success not only in the Philippines, but also in large scale projects and beginnings on a global scale,. Added Peco.

Razon, who heads the international port management company International Container Terminal Services Inc., said that Peco has not received at least 1800 customer complaints.

Complaints contained accumulated bills due to inadequate services, overloading of electricity bills that reached more than 1,000 percent of some, faulty meter readings, technical failures, poor customer service, high electricity prices, continuous power cuts, and unexplained costs. "

Üşt Peco has evolved into a family-run search for rents, which increases and leases Peco's resources and earnings through dividends, R Razon said.


"They are a return to the pilgrims in the liris," he says.

Lar Franchises behave as if they were a congenital. This is not a privilege, but a right ”Razon added.

Last month Peco president Miguel Luis Cacho said the company has always made the rules and guidelines of the Energy Regulatory Commission the best electricity company in the country.

Gibi This is seen in the strong partnership in the growth of the city of Iloilo in recent years, C said Cacho.

However, Razon said Peco is ranked 20th in the list of distribution vehicles in the Philippines and is a sign of poor performance.

Razon said Peco should be in the Top 5 or Top 10, considering the franchise zone is a compact and contiguous urban area.

Gov & tt role

”If Peco had done a good job, we wouldn't have the opportunity to apply for a concession and transform it into a modern, efficient, cost-effective and state-of-the-art distribution network,“ he said.

Energy Minister Alfonso Cusi said the government must take over the electricity distribution in Iloilo if the confusion between Peco and Razon is not eliminated.

The Peco franchise ended in January 2019.

The House of Representatives had already ratified a bill to a new franchise, pending further approval by the Senate.

On Thursday, Cusi said the Department of Energy and the National Electrification Agency (NEA) had organized a task force to take over the power distribution in the absence of any solution to the City of Iloilo.

”We want all parties to accept and offer transition plans to ensure that there will be no service outages,“ he said.

“But if they disagree, [NEA] take over as an official to make sure there will be no hitch. herhangi

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