The Manila Electric Co. is keen on investing in particular electric cooperatives (EC) to help boost the level of service in key areas of the country.
Manuel Pangilinan, Meralco chairman and chief executive officer, said he encourages Meralco to adapt the idea of broadening its investments in electric cooperatives in the country.
At the Giga Summit that Meralco hosted in Makati City this week, he said the various electric cooperatives need to level up not only their operational efficiencies but the quality of their service as well.
“We might be efficient in the generation side of the business but Meralco’s distribution footprint is limited to our franchise area. There are key areas in the country where electric cooperatives have got to level up to the kind of standards and efficiencies Meralco as a distribution company has achieved,” Pangilinan intimated.
The executive did not elaborate on the plan as well as on the areas that Meralco eyed as investment targets.
At the moment, private companies looking to invest in electric cooperatives do so under joint venture pacts.
Publicly available data show Meralco serving 7.72 million customers.
It is the largest electricity distribution company in the Philippines with a franchise area of 9,685 square kilometers encompassing 36 cities and 75 municipalities, including Metro Manila and all of the provinces of Rizal, Cavite and Bulacan as well as parts of the provinces of Pampanga, Batangas, Laguna and Quezon.
Meralco also has a 65 percent stake in Clark Electric Distribution Corp. which owns, operates and maintains a power distribution system exclusively within the Clark Special Economic Zone and its sub areas.
The company also has a stake in Pampanga II Electric Cooperative under an investment management contract with Comstech Integrated Alliance Inc. with Meralco as technical partner in 2014.
