Since its inception in 2020, MORE Power has ignited a transformative change across Iloilo City, impacting everything from the local economy to the everyday lives of its residents.
The company’s focus on upgrading and stabilizing the power distribution network has not only reduced power interruptions but also fostered economic growth, as detailed in their five-year development plan and various analyses.
Electrifying Growth
When MORE Power took over the electricity distribution in Iloilo City, it inherited a system fraught with inefficiencies and high system loss rates, leading to frequent power outages. Since then, the company has introduced significant infrastructure improvements, such as the rehabilitation of substations in key areas including Jaro, La Paz, Molo, Mandurriao, and City Proper, enhancing the overall stability of the power supply.
One of the most notable achievements has been the reduction of system losses from 30% to an astonishingly low of 5.42% as of December 2023. This reduction translates into substantial savings for consumers, who in 2022 alone, injected over PHP 1.01 million back into the local economy through additional spending facilitated by the lower electricity charges. As of the latest, the system loss of MORE Power is at 4.5%, which is now at ERC cap.
Economic Amplification
The rigorous anti-pilferage and system loss minimization efforts by MORE Power have also had broad economic implications. According to data analyzed from MORE Power and local economic indices, these efforts contribute approximately PHP 5 billion annually to Iloilo City’s Gross Domestic Product (GDP). The increased reliability of electricity supply has bolstered the city’s manufacturing and service sectors, which are heavily dependent on stable power supply.
An economic impact analysis suggests that every peso spent by MORE Power generates an additional PHP 1.28 in local economic output, indicating a potent multiplier effect. From 2020 to 2022, MORE Power’s operations are estimated to have added around PHP 4.99 billion annually to the city’s economy, accounting for about 3.8% of the city’s average GDP over this period.
Social and Service Improvements
Beyond economic metrics, MORE Power has had a tangible impact on the quality of life in Iloilo City. The power stability has underpinned improvements in various service industries and has contributed to a more vibrant local economy with increased job opportunities. From 2020 to 2022, MORE Power’s operations indirectly supported the creation of approximately 6,693 jobs, thereby reducing the unemployment rate in the city by an average of 10.6% annually.
The enhanced power infrastructure has also improved the quality of customer service, a move praised by Iloilo City Mayor Jerry Treñas, who recognized MORE Power as an “indispensable partner” in the city’s development.
Looking Forward
The sustained investment in power infrastructure by MORE Power signifies a bright future for Iloilo City. The company’s commitment to reducing system losses and enhancing customer service efficiency continues to propel Iloilo toward becoming a more resilient and economically robust community. With plans for further infrastructure improvements and community engagement initiatives, MORE Power is setting the stage for a more electrified and economically vibrant Iloilo City.
This proactive approach by MORE Power not only reflects a technical enhancement of the city’s utility framework but also a strategic investment in its socio-economic growth, proving that reliable electricity is a cornerstone of modern urban development.
