At just 25 years old, Peter Nepomuceno was running Angeles Electric, the family-owned power distribution business. But taking over wasn’t just about leadership—it meant taking on massive financial pressure.
The company was barely surviving. With 30% system loss, it struggled to turn a profit. Power shortages forced them to stop accepting new customers, and the government’s import controls meant they couldn’t buy new equipment to improve operations.
Nepomuceno had no choice but to take a huge financial risk.
“In the ‘50s, I borrowed P110,000, my first borrowing, and I could not sleep,” he recalls. “How can I pay this P110,000? I was thinking about how to pay it and how to solve all of the problems.”
At the time, P110,000 was a massive amount—equivalent to millions today. The debt weighed on him constantly, but he knew that without it, the business would collapse.
Making Every Peso Count
With limited funds, Nepomuceno had to stretch every peso. Since buying brand-new generating units was out of the question, he scoured junkyards for secondhand generators, restoring and repurposing them to keep the business running.
He also negotiated a critical deal with General Electric, buying new meters on installment because the company couldn’t afford to pay upfront. This reduced system losses and helped stabilize revenues.
“I changed all the meters to General Electric so that they’ll be more accurate. I was able to make an arrangement with General Electric that they sell me the meters on installment because we didn’t have enough money,” he says.
The Risk Paid Off
Slowly, his strategy worked. System losses gradually dropped, revenue improved, and Angeles Electric expanded its customer base. That P110,000 loan, which once kept him up at night, became the foundation for the company’s turnaround.
Nepomuceno spent 43 years leading Angeles Electric, proving that taking financial risks—when done wisely—can transform a struggling business into a thriving enterprise.
This article includes quotes from an interview originally published by Esquire Philippines, authored by Henry Ong.
