Meralco bags House approval for franchise renewal

Once signed by the Philippine president, the company will be granted 25 years.

Manila Electric Company’s (Meralco) bid to extend its franchise for another 25 years has been approved by the Philippine government’s House of Representatives.

Lawmakers approved House Bill No. 10926 on third and final reading on 6 November.

Meralco’s franchise covers the construction, operation and maintenance of a distribution system for the conveyance of electric power to end-users in parts of Luzon.

It shall maintain a listing and offer to Filipino citizens at least 30% of its outstanding capital stock. Otherwise, the company’s franchise will be revoked.

Also amongst Meralco’s duties under the bill is the submission of an annual report of its finance and operations to the Philippine Congress. This should include updates on rollout, development, operation, and/or expansion of the business, financial statements, amongst others.

The bill will be sent to the Philippine Senate for deliberation before it is transmitted to the Philippine president for signing.

Follow the link for more news on

Meralco

Also Read

MGen’s $4b Terra Solar plant to aid Philippine RE transition

What is the future of gas in Australia's energy market?

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit