Manila: President Ferdinand R. Marcos Jr. has signed into law the bill extending the franchise of the Manila Electric Company (Meralco) for another 25 years, securing the continued operations of the country's largest electricity distributor until 2053. Executive Secretary Lucas Bersamin confirmed to reporters that the measure was signed on April 11.
According to Philippine News Agency, the official copy of the law is expected to be released by the Malaca±ang Records Office once it is assigned a Republic Act number. Meralco welcomed the development, calling it a recognition of its role in powering the country's economic growth. The franchise extension, the company said, enables it to carry out long-term infrastructure projects and energy solutions vital to national development.
Meralco chairman and CEO Manny Pangilinan stated that the development fortifies the company's commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos. He noted that the renewed congressional mandate would allow Meralco to invest further in modernizing its distribution network, making it more resilient to climate-related disruptions, while also introducing innovations aimed at improving efficiency and customer experience.
The power firm expressed gratitude to the President for his support and to both houses of Congress for enacting what it described as a critical measure for the energy sector. The renewal, according to the company's statement, reflects a shared effort to ensure that Meralco continues to meet the evolving needs of consumers through innovation, operational excellence, and dependable service.
Beyond technical improvements, Meralco committed to aligning its operations with the broader goals of national progress. It reaffirmed its support for the government's nation-building agenda, stating it will continue to operate with transparency, regulatory compliance, and a strong sense of corporate social responsibility.
First granted in 1903 and last extended through Republic Act 9209 in 2003, Meralco's franchise covers Metro Manila, parts of Central Luzon, and Calabarzon, which are home to key industrial and economic hubs. Meralco's franchise is set to expire in 2028.
