MORE Electric and Power Corporation

Name

MORE Electric and Power Corporation

Legal name

MORE Electric and Power Corporation

Website

https://morepower.com.ph

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Electric Utility Distribution

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

akta.pro secondary industries

Distribution System Hardening & Resilience Upgrades (EUAEACAK), Power Transformers, Reactors & Auxiliary Power Systems (EUADACAJ), Protection, Relaying & Substation Automation Upgrades (IEC 61850) (EUAEALAC)

Keywords

• Electricity distribution services
• Electric power utility
• Distribution network operations
• Metering and billing services
• Underground power distribution

Headquarters

HQ city

Iloilo

HQ country

Philippines

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Distribution Services: MORE Power operates as the sole distribution utility for Iloilo City, earning revenue through regulated distribution charges passed through to consumers. Revenue includes distribution, system loss, and metering charges embedded in monthly electricity bills. The company also earns from connection fees, reconnection fees, and other service charges. Power supply costs (generation and transmission) are pass-through charges collected from customers and remitted to power generators and NGCP.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

MORE Electric and Power Corporation (MORE Power) is the sole electric distribution utility for Iloilo City, Philippines, operating under a 25-year franchise granted by Republic Act 11212 (expiring 2044). It procures power through Competitive Selection Process and bilateral contracts, then distributes electricity to residential, commercial, industrial, and government customers across seven districts of Iloilo City. The company also delivers branded customer welfare programs (MORE Konek, MORE Kolek, MORE Korek, MORE Update), infrastructure modernization including Underground Distribution System (UDS) and SCADA-enabled substations, and Lifeline Rate discounts for marginalized consumers.

Product overview

MORE Electric and Power Corporation (MORE Power) operates as the electric distribution utility for Iloilo City, Philippines, providing comprehensive electricity distribution services through a portfolio of branded customer welfare initiatives and infrastructure modernization programs. The core service offering includes MORE Konek (meter application), MORE Kolek (bill payment centers), MORE Korek (meter replacement), and MORE Update (account updating), collectively forming the customer-facing service portfolio. Supporting infrastructure includes the Underground Distribution System (UDS) and rehabilitated substations with SCADA automation. The company also provides specialized services including 24/7 response teams, Key Accounts Management, E-Billing, and Lifeline Rate discounts for qualified marginalized customers. The company is a subsidiary of Prime Strategic Holdings Inc. and operates under a 25-year franchise (2019-2044).

Differentiator

Problem solved

Functional benefit

Brands

• MORE Konek: Customer welfare-driven initiative bringing customer-friendly application process for electric service meters to barangays.
• MORE Kolek
• MORE Korek
• MORE Update

Products and services

• MORE Konek (Meter Application Program) Customer-friendly electric service meter application program that brings application processing directly to barangays, streamlining the process for low-load, informal-settler, residential, and commercial applicants in Iloilo City.
• MORE Kolek (Bill Payment Centers) Bill payment accessibility service through a network of over 120 partner banks, payment centers, and mobile wallets (including BDO, RCBC, PNB, Landbank, SecurityBank, GCash, Palawan Express, SM City, DragonPay) accepting bill deposits and monthly electricity bill payments across all districts of Iloilo City.
• MORE Korek (Meter Replacement Initiative) Free meter replacement initiative that replaces defective and aging electric meters across Iloilo City with industry-standard digital meters at no cost to affected consumers. Over 30,000 meters replaced since 2020.
• MORE Update (Account Information Updating) Account information updating service enabling consumers to update account names, rate classes, and other billing information through a streamlined process.
• Underground Distribution System (UDS) Modern underground electrical distribution infrastructure using Horizontal Directional Drilling (HDD) trenchless technology to eliminate overhead wires, beginning with the Calle Real heritage zone in Iloilo City's historic business district.
• E-Billing Service Electronic billing service allowing customers to receive and manage electricity bills via email or push messaging through the MORE PowerUP mobile application.
• Lifeline Rate Discount Subsidized electricity rate program under R.A. 11552 for qualified low-income customers including 4Ps beneficiaries and marginalized end-users living below the poverty threshold, with consumption under 95 kWh/month. Discount tiers: 0–20 kWh (100%), 21–50 kWh (50%), 51–60 kWh (45%), 61–70 kWh (35%), 71–80 kWh (20%), 81–95 kWh (10%).
• 24/7 Quick Response Team Round-the-clock response teams (six teams operating 24/7) deployed across Iloilo City to quickly address electrical network troubleshooting concerns.
• Key Accounts Management Dedicated Key Account Officers providing accessibility and convenience for identified Key Accounts in Iloilo City, with personalized business development and sustainability support for enterprise customers.

Quantifiable outcome

• Lowest electricity rate in Western Visayas region
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature3 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Energy Regulatory Commission (ERC)coreStrategic or Co-development Partner · 3 August 2023ERC signed landmark agreement with Iloilo City and MORE Power on August 3, 2023 to promote renewable energy adoption through Distributed Energy Resources and Net-Metering Services. ERC assigned personnel to Iloilo City one-stop shop to expedite application processes for solar panels and net metering.
• Iloilo City GovernmentcoreStrategic or Co-development PartnerIloilo City Government partnered with MORE Power for one-stop shop services hosting OBO and City Engineers. Mayor Jerry P. Treñas praised MORE Power's lowest rates in Western Visayas as boost for city investments. Joint net metering agreement with ERC.
• Philippine National Police (PNP) - Iloilo CityminorStrategic or Co-development PartnerMORE Power solidifies collaboration with ICPO by illuminating key locations with lighted panaflex signages and enhancing SWAT and ICMFC barracks with high-capacity Air Conditioning Units donation. Partnership prioritizes community safety beyond electric power distribution.
• City Environment and Natural Resources (CENRO)minorStrategic or Co-development PartnerMORE Power partners with CENRO for environmental sustainability initiatives including mangrove planting and coastal cleanup at Barangay Hinactacan. Partnership supports MORE Power's goal to plant 10,000 trees/mangroves over 5 years.
• KEPCO SPC Power CorporationcoreOthersPower supply agreement for electricity procurement. KEPCO SPC constitutes 19.06% share in energy procurement. Subject of multiple ERC case approvals for interim power sales contracts.
• Panay Energy Development Corporation / Panay Power CorporationcoreOthersEmergency Power Purchase Agreements and Power Supply Agreements for electricity procurement to serve Iloilo City customers. Subject of multiple ERC regulatory approvals.
• Energy Development CorporationcoreOthersPower Supply Agreement for electricity procurement subject to ERC approval (ERC Case No. 2022-085 RC).
• AP Renewables, Inc.coreOthersPower Supply Agreement subject to ERC approval (ERC Case No. 2020-040 RC).
• SEM-Calaca Power CorporationcoreOthersPower Supply Agreement subject to ERC approval (ERC Case No. 2021-105 RC). SEM Calaca constitutes 30.90% share in energy procurement.
• Palm Concepcion Power CorporationcoreOthersPower Supply Agreement subject to ERC approval (ERC Case No. 2025-065 RC).
• Southwest Luzon Power Generation CorporationcoreOthersEmergency Power Supply Agreement (EPSA) for 10 MW baseload with fuel pass through, subject to ERC approval (ERC Case No. 2024-026 RC).
• Urban Energy Development Corp.coreOthersJoint application with MORE Power for power supply agreement approval under ERC Case No. 2025-206 RC.
• National Grid Corporation of the Philippines (NGCP)coreOthersNGCP operates the power transmission grid serving Panay Island. Completion of Cebu-Negros-Panay (CNP) 230kV backbone project significantly improved power reliability for MORE Power's franchise area.
• Major Banks and Payment Centers (BDO, RCBC, PNB, Landbank, SecurityBank, Robinson Bank, etc.)coreChannel Partner/ Reseller/ DistributorPartnership with banks and payment centers across Iloilo City for MORE Kolek bill payment centers. Over 120 locations accepting bill deposits and monthly bill payments, including SM City, Palawan Express, DragonPay online, GCash, and other channels.

Scale indicators6 records

Recent moves6 records

Expansion highlights2 records

Broad incumbents

• Manila Electric Company (Meralco): The Philippines' largest privately held electric distribution utility, franchised to serve Metro Manila and surrounding provinces. Comparable in regulated DU model and ERC oversight, but vastly larger scale, broader geographic reach, and publicly listed status.

Direct peers

• Cagayan Electric Power and Light Company (CEPALCO): Privately held franchised electric distribution utility serving Cagayan de Oro and neighboring municipalities. Comparable as a regional private DU operating under ERC franchise with mixed residential, commercial, and industrial load.
• Davao Light and Power Company: Privately held distribution utility serving Davao City and parts of Davao del Sur under franchise. Operates with similar private-franchise model, ERC oversight, and customer segments to MORE Power; several MORE Power executives (e.g., Armil Logarta) previously led technical functions here.
• Visayan Electric Company (VECO): The largest private electric distribution utility outside Metro Manila, serving Metro Cebu under a long-term franchise. Closely comparable to MORE Power in franchise-driven model, distribution scope, ERC oversight, and customer base, but at materially greater scale.
• Iligan Light & Power, Inc. (ILPI): Privately owned distribution utility serving Iligan City under a congressional franchise. Comparable in scope and regulatory structure as a mid-sized Philippine private DU with mixed residential and industrial customers.

Regional players

• Clark Electric Distribution Corporation (CEDC): Electric distribution utility serving the Clark Freeport Zone and adjacent areas. Comparable franchise-based DU model but oriented to a special economic zone rather than a metropolitan franchise like Iloilo City.
• Subic EnerZone Corporation: Distribution utility operating within the Subic Bay Freeport Zone. Comparable regulated DU model but geographically distinct (freeport-focused) and smaller customer base than MORE Power's urban franchise.
• Batangas Electric Cooperative, Inc. (BATELEC I & II): Electric cooperative distribution utilities serving Batangas province under NEA supervision. Comparable distribution activity but operate under cooperative (member-owned) governance and EC structure rather than the private corporate franchise model MORE Power uses.

Others

• National Grid Corporation of the Philippines (NGCP): Operator of the Philippines' transmission grid and concessionaire under Republic Act 9511. Not a direct peer — MORE Power relies on NGCP for high-voltage transmission into its franchise — but tightly coupled: NGCP's Cebu-Negros-Panay 230kV backbone materially improved Iloilo supply reliability for MORE Power.
• Panay Energy Development Corporation (PEDC): Power generation affiliate operating in Panay and a current Power Supply Agreement partner of MORE Power (ERC Case No. 2024-053 RC). Comparable as part of the same Philippine energy ecosystem but operates upstream in generation rather than distribution.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MOREpowerIloilo
• LinkedInlinkedin.com/company/morepower

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MORE Electric and Power Corporation