Energy dept warns it can take over power firm’s operationsBy NEIL JAYSON SERVALLOShome/News/Nation/Energy dept warns it can take over power firm’s operationsThe Department of Energy (DoE) has warned that it would take over the operations of utility firm Panay Electric Co. (Peco) if it refuses to “step down” as energy distributor of Iloilo City once its franchise expires next year. Congress has granted the franchise to distribute power in Iloilo City to More Electric Power Corp. Peco’s franchise expires on ‪Jan. Peco had been Iloilo’s power distributor for 95 years. The DoE chief expressed hope that Peco and More Power would reach an agreement for a smooth transition plan. The Senate version of More Power’s franchise bill would give Peco a temporary Certificate of Public Convenience and Necessity for one year to continue operations while turning over full operations to More Power.

Source: Manila Times November 24, 2018 18:56 UTC