Meralco commits to lower prices, invests in solar storage

Manila Electric Company (Meralco) chairman Manuel V. Pangilinan reaffirmed the company's commitment to reducing power prices and ensuring supply reliability during the Giga Summit 2025 in Makati City.

Pangilinan noted that while Meralco does not profit from generation, it faces criticism for distribution costs and aims to invest in modernizing its network to enhance resilience against climate-related disruptions.

The company is developing a P200-billion solar and battery storage facility in Central Luzon, which will power 2.4 million households upon completion in 2027 and contribute to the government's renewable energy targets.

Meralco has also initiated discussions with France about nuclear energy potential and aims to collaborate with Electricité de France SA to explore opportunities in this area.

Energy Secretary Raphael Lotilla emphasized Meralco's significant role in the country's power sector, highlighting its substantial demand share and economic impact within its franchise area.