Meralco secures franchise renewal beyond 2028

Manila Electric Co. (Meralco), the country’s largest power distributor, has secured congressional approval for a new franchise, ensuring its continued operations beyond 2028 and allowing the company to pursue long-term infrastructure projects to improve electricity service.

“We welcome the renewal of Meralco’s franchise — a recognition of our role in helping power the nation’s growth,” Meralco Chairman and CEO Manuel V. Pangilinan said in a statement on Tuesday.

The franchise renewal, which has the support of President Ferdinand Marcos Jr. and both houses of Congress, reinforces Meralco’s mandate to serve millions of customers across its franchise area.

According to Pangilinan, the renewed franchise will enable Meralco to implement long-term energy infrastructure projects and modernize its distribution network to make it more resilient to climate-related disruptions.

“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 said.

“Meralco stands firm in its mission to support the Government’s nation building agenda, drive economic progress, and improve the lives and economic well-being of our people,” he added.