PBBM OKs Meralco’s 25-year franchise extension

FILE: Meralco Building in Ortigas, Pasig. (Photo By patrickroque001/Wikimedia Commons, CC BY-SA 4.0)

By Darryl John Esguerra, Kris Crismundo, Philippine News Agency

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.

The official copy of the law is expected to be released by the Malacañang 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.

“This development fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos,” Meralco chairman and CEO Manny Pangilinan said in a statement.

He said 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 “invaluable support,” and to both houses of Congress for enacting what it described as a critical measure for the energy sector.

“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 statement read.

Beyond technical improvements, the company committed to aligning its operations with the broader goals of national progress.

It reaffirmed its support for the government’s nation-building agenda, saying 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—home to key industrial and economic hubs.

Meralco’s franchise is set to expire in 2028.