President Ferdinand Marcos Jr. renewed the franchise of Manila Electric Co., the country’s biggest power retailer for another 25 years, ahead of its 2028 expiration.
“We welcome the renewal of Meralco’s franchise—a recognition of our role in helping power the nation’s growth. This development fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos across our franchise area,” Meralco chairman and chief executive Manuel Pangilinan said.
He thanked the President, who signed into law Republic Act 12146 on April 11, 2025.
“We thank President Ferdinand R Marcos Jr. for his invaluable support. We are grateful to the Senate and the House of Representatives for enacting this important measure,” Pangilinan said.
Meralco, with over 8 million customers in its franchise area, posted a core net income of P45.412 billion last year.
Pangilinam said the renewal reflects a shared effort to ensure that Meralco continues to meet the evolving needs of consumers through innovation, operational excellence, and dependable service.
“The fresh franchise enables us to implement long-term energy infrastructure projects that will further improve the delivery of electricity to homes, businesses, and industries that fuel the country’s development,” he said.