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Brix Lelis - The Philippine Star
May 6, 2026 | 12:00am
Primelectric — the majority shareholder of Ignite Power, a joint venture with MP Holdings of boxing legend Manny Pacquiao — plans to replicate in Socoteco 2 the same approach it used in Central Negros under its planned investment.
Miguel De Guzman, file
MANILA, Philippines — Primelectric Holdings Inc. of tycoon Enrique Razon Jr. is promising lower power rates and more efficient service for consumers if its proposed deal with South Cotabato II Electric Cooperative Inc. (Socoteco 2) pushes through.
Primelectric — the majority shareholder of Ignite Power, a joint venture with MP Holdings of boxing legend Manny Pacquiao — plans to replicate in Socoteco 2 the same approach it used in Central Negros under its planned investment.
Primelectric, through Negros Electric and Power Corp., assumed control of the distribution networks in Central Negros last August 2024.
In just 16 months, the company said its investment has already delivered measurable results, including lower system losses, fewer unscheduled power outages and a decline in average interruptions.
Consumers served by Negros Power have also experienced the “lowest electricity rate in the region,” Primelectric added.
Negros Power, a joint venture with Central Negros Electric Cooperative, has invested over P2 billion to rehabilitate aging power distribution infrastructure as part of Primelectric’s five-year development plan for Ceneco’s service area.
Through Ignite Power, Primelectric is looking to apply the Ceneco model in its proposed joint venture with Socoteco 2, which serves consumers in parts of South Cotabato, Sarangani and General Santos City.
“The same playbook — infrastructure investment, system modernization and operational efficiency — can deliver comparable improvements for Socoteco 2 consumers, who currently experience reliability challenges similar to those Ceneco faced before the partnership began,” the company said.
Under its proposal, Ignite Power will invest up to P10 billion in Socoteco II to modernize and operate its electricity distribution network and address persistent power issues across its franchise area.
