Iloilo City’s new distribution utility MORE Electric and Power Corp. (MORE Power) has taken complete control of the distribution assets of franchise-less Panay Electric Co. (PECO).

Roel Castro, MORE Power president and chief executive, said the takeover of PECO’s distribution assets was in line with a writ of possession (WoP) issued by the Iloilo City Regional Trial Court (RTC) Judge Emerald Requina-Contreras and implemented by the Iloilo City Sheriff’s Office.