The Makati Business Club (MBC) and the Management Association of the Philippines (MAP) have endorsed the renewal of the franchise of the Manila Electric Company (MERALCO).
In a report by Philippine Star, Cagayan de Oro City’s second district congressman and House committee on constitutional amendments chairman Rep. Rufus Rodriguez commended the decision of these organizations, calling it a “step in the right direction”.
Rodriguez added that this meant that the industry was securing the availability of the energy supply far in advance of MERALCO’s legislative franchise expiry in 2028.
For MBC, the distribution utility (DU) company, which serves Metro Manila, Bulacan, Cavite, Rizal, and several areas in Pampanga, Laguna, Batangas, and Quezon, is the country’s leading power distributor and therefore plays a crucial role in providing consistent and easily accessible electricity.
The organization elaborated that Metro Manila accounts for 41.4% of the services sector’s economic performance, followed by Calabarzon at 10.8% and Central Luzon at 8.3%.
As for the industrial sector, Calabarzon contributed 25%, with Metro Manila in tow at 18.6%, and Central Luzon at 16%.
Additionally, a 2023 report from the International Energy Consultants shed light on MERALCO’s distribution rates, affirming their fairness and reasonableness, especially in light of prevailing inflation rates.
MAP emphasized the significance of renewing MERALCO’s franchise, highlighting its role in providing stable electricity, essential for the prosperity and welfare of businesses and the Filipino population.
Furthermore, MAP applauded MERALCO’s commitment to green energy, noting its substantial contribution of 64% to the total energy consumption under the Green Energy Option Program within its franchise area.
