Peco loses bid to recover assets held by More Power in Iloilo energy struggle
MANILA, Philippines — The Panay Electric Co. (Peco) has lost its appeal to regain distribution assets now controlled by rival firm More Electric Power Corp. (More Power) after an Iloilo City court junked their motion for reconsideration.
According to the order from Presiding Judge Emerald Requina-Contreras of Iloilo Regional Trial Court Branch 23 dated July 2, Peco’s bid to reclaim assets cannot be granted as they no longer have the franchise required to supply electricity to Iloilo.
Peco’s bid stemmed from a ruling from Branch 23 also last February ordering the sheriff to give its distribution assets to More Power, to ensure that electric provision is continuous.
“But to reiterate, Defendant Peco has no more franchise to operate the distribution system and no Certificate of Public Convenience and Necessity (CPCN) to operate the same while More has now both the franchise and the provisional CPCN to operate,” Contreras said in her latest order.
“Again, the court already issued and implemented the writ of possession, according to law and jurisprudence. Defendant, in fact, had resorted to other legal remedies to question the said action of the court but as of this writing, there is no other order from the higher court to rule otherwise,” the order added.
Last February also, Peco asked the Court of Appeals to stop the implementation of the Branch 23’s order allowing More Power’s takeover of the distribution assets.
Article continues after this advertisementPeco’s lawyers from the Divina Law said that More Power should not insist on the takeover as it would be irregular, as there are still issues that are not resolved by the courts.
Last March, More Power assured that Iloilo City’s electric provision would be assured after the power struggle was seemingly solved.
