Business tycoon Manuel V. Pangilinan and Bicol Rep. Joey Salceda on Tuesday said President Ferdinand Marcos Jr. decision to renew the franchise of Manila Electric Co. (Meralco) will drive the country’s future growth, spur investments and create more jobs.
By signing the franchise extension, President Marcos granted Meralco a fresh 25-year mandate to operate as the country’s largest electric distribution utility that serves an area that comprise Metro Manila and nearby provinces. This franchise area together produces 55 percent of gross domestic product and is home to tens of millions of Filipinos.
Pangilinan, who serves as Meralco chairman and chief executive officer, highlighted in a statement the long-term benefits of the renewed franchise, saying it allows the company to pursue strategic infrastructure projects aimed at modernizing the grid and expanding capacity.
“This development fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos,” Pangilinan said, underscoring Meralco’s support for the government’s broader economic agenda.
Bicol Rep. Joey Salceda, who shepherded the franchise bill through Congress, said the renewal comes as Meralco prepares to implement a five-year capital expenditure plan worth ₱206 billion. The investment will focus on reducing system losses, enhancing power reliability, integrating climate-resilient infrastructure, and supporting the growing demand for energy from emerging industries such as electric vehicles and data centers, he said
Salceda said Meralco’s franchise extension ensures long-term stability in energy distribution that is critical for sustaining investor confidence and economic growth. “Thank you, President BBM, for the swift and favorable action on an improved franchise for Meralco,” Salceda stated.
He added that the utility’s commitment to performance improvements has already yielded tangible results, with average power interruptions per user down to 123 minutes a year from 550 minutes in 2011.
Salceda underscored the potential national impact if Meralco’s reliability metrics were replicated nationwide. “An additional P204 billion in gross value added would be made in the economy,” he noted, drawing parallels with China’s rapid industrial expansion.
With the franchise now secured through 2050, Pangilinan reaffirmed Meralco’s dedication to transparency, innovation, and service excellence. “We stand firm in our mission to support the government’s nation-building agenda, drive economic progress, and improve the lives of our people,” he said.
The franchise renewal reinforces Meralco’s pivotal role in powering the Philippines’ future—a role stakeholders hope will remain aligned with the evolving needs of a modernizing economy.
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