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Manila Electric Co. (Meralco) welcomed President Ferdinand Marcos Jr.’s support for the renewal of the distribution utility’s (DU) franchise for another 25 years.
In a statement on Tuesday, April 15, Meralco Chairman and Chief Executive Officer (CEO) Manuel V. Pangilinan commended the President for signing the franchise extension.
Earlier on Tuesday, Executive Secretary Lucas Bersamin announced that President Marcos signed Meralco’s franchise renewal last April 11, allowing the country’s largest DU to continue its power delivery to its service areas, namely Metro Manila, Bulacan, Cavite, and Rizal, as well as parts of the provinces of Batangas, Quezon, and Pampanga, until 2053.
“This development fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos across our franchise area,” Pangilinan said.
“We are grateful to the Senate and the House of Representatives for enacting this important measure. The renewal reflects a shared effort to ensure that Meralco continues to meet the evolving needs of consumers through innovation, operational excellence, and dependable service,” he added.
The Meralco chief also noted that not only will this provide the company authority to continue distributing electricity to its consumers; this would also help it push through with long-term infrastructure projects that are intended to improve its services.
“It also allows us to continue investing in the modernization and expansion of our distribution network—making it more resilient to climate-related disruptions—while introducing innovations that enhance efficiency and raise customer experience,” Pangilinan elaborated.
Moreover, he assured that this franchise extension would help the government’s nation-building plans as well as contribute to the country’s economic activities.
“With the continued trust of our leaders and stakeholders, we remain committed to transparency, regulatory compliance, and corporate social responsibility,” the Meralco chairman concluded.
With its franchise originally set to expire in 2028, Meralco started making efforts to secure its extension as early as last year.
Introduced in the Lower House through House Bill (HB) No. 10926, Meralco’s franchise renewal bid was eventually passed by the Senate last February.
The following month, Meralco confirmed that the bill had already been forwarded to the President for final approval.
