President signs 25-year Meralco franchise extension

President Ferdinand Marcos Jr. signed into law a 25-year extension for the Manila Electric Company (Meralco)'s franchise on Friday, April 11.

Executive Secretary Lucas Bersamin confirmed this development on Tuesday, April 15, and Meralco Chairman Manuel Pangilinan thanked the government for the renewal, emphasizing the importance of stable electricity delivery to millions of Filipinos across Metro Manila and surrounding provinces.

The new law mandates Meralco to provide universal service, supply electricity efficiently and reliably, and ensure customer interests are adequately promoted in line with ERC regulations.

Meralco is required to resolve consumer complaints promptly and establish a platform for handling concerns remotely through electronic means. The company must also submit annual reports detailing corporate social responsibility initiatives.

Opposition Senator Risa Hontiveros argued that Meralco should first refund customers for past overcharges before being granted the new franchise, with the Energy Regulatory Commission ordering Meralco to return P19.95 billion due to rate over-recovery from July 2022 to December 2024.