Socoteco 2 clears legal hurdle on proposed Ignite Power deal

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September 15, 2026 | 12:00am

MANILA, Philippines — The proposed joint venture between Ignite Power and South Cotabato II Electric Cooperative (Socoteco 2) is now headed to a vote after a recent court ruling lifted the block on the plebiscite.

In a 12-page resolution dated Sept. 11, the regional trial court in Polomolok, South Cotabato, granted defendant Socoteco 2’s very urgent motion to lift the temporary restraining order (TRO) that had blocked voting on the proposed deal.

The court also denied a writ of preliminary injunction sought by plaintiff Eugene Mangilaya, a Socoteco 2 consumer, after finding that he failed to establish the requirements for the remedy.

“What plaintiff offers is a conjecture presented as a violation, and an injunction will not protect a right founded on nothing more than a speculative claim,” it said.

The court likewise rejected claims of irreparable injury from proceeding with the plebiscite, underscoring that the proposed deal remains conditional and has yet to reach its final stage.

Following the court ruling, Socoteco 2 said the plebiscite can now proceed, clearing the way for member-consumer-owners to vote on the Ignite Power deal.

The cooperative, however, decided to defer the Sept. 12 and 13 voting, citing limited time for preparation. The remaining voting dates are Sept. 19 to 20 and Sept. 26 to 27.

Ignite Power, a joint venture between Razon-led Primelectric Holdings and boxing legend Manny Pacquiao’s MP Holdings, is proposing to infuse fresh capital into Socoteco 2 to rehabilitate its aging power distribution networks.

If approved, the deal would support a five-year modernization program aimed at reducing Socoteco 2’s system losses to 5.5 percent from the current recoverable level of 8.25 percent.

System loss refers to electricity lost before it reaches consumers, with the cost currently recovered through a line item on power bills.