PH's Meralco bags franchise renewal

It was set to expire in 2028.

The Philippines’ largest electric power distributor Manila Electric Co. (Meralco) has officially secured the extension of its franchise for 25 years.

In a statement, Meralco Chairman and CEO Manuel Pangilinan said the new franchise will enable the company “to implement long-term energy infrastructure projects that will further improve the delivery of electricity.”

This will also allow Meralco to continue working on modernising and expanding its distribution network whilst introducing innovations, he added.

The House of Representatives approved the bill seeking renewal of the company's franchise in November, followed by Senate approval in February.