The Sangguniang Panlungsod (SP) has acknowledged the contribution of MORE Electric and Power Corporation (MORE Power) to Iloilo City’s economic development.
In a resolution, the City Council cited MORE Power’s modernization program and initiatives to provide efficient and reliable services for Ilonggos.
Authored by Councilor Romel Duron, the resolution was adopted by SP on Wednesday, Jan. 15.
Based on a study conducted by the University of Asia and the Pacific (UA&P) MORE Power’s services helped add an average of P4.9 billion annually to the local economy.
Each year, the power distributor is creating more or less 2,200 jobs, generating P1.75 billion in additional household income from 2020 to 2022.
Findings of a study by the Institute of Contemporary Economics, also showed that reliable and affordable electricity has attracted businesses and promoted economic innovation in the city.
MORE Power, controlled by billionaire Enrique Razon, took over the city’s power distribution system in 2020.IMT
