Enrique Razon-led Bohol Light Co., which delivers power to Tagbilaran City, is nearing a new 25-year franchise after the measure cleared its final reading in the Senate.
This came almost a year after the lower chamber of Congress approved the proposed bill.
Once enacted into law, the measure would give Bohol Light the go signal to build, own, and operate a distribution system in its franchise area to ensure a reliable supply of electricity within Tagbilaran City.
Another Razon-backed distribution utility, More Electric and Power Corp., has inched closer to expanding its services beyond Iloilo City into nearby towns. This, as the Senate advanced on second reading a separate measure for this proposed move.
Primelectric Holdings Inc., which manages these two companies, said that the group’s investments have led to ‘substantial improvements’ in delivering electricity.