The Manila Electric Company (Meralco), the Philippines’ largest power distributor, is pursuing joint ventures with at least 15 electric cooperatives (ECs) to expand its reach beyond its traditional franchise areas. Among those being considered is South Cotabato Electric Cooperative II (SOCOTECO II), a local power distributor in Region 12.
Meralco has expressed willingness to inject capital to help SOCOTECO II upgrade its facilities and improve electricity services.
In an interview with Brigada News GenSan, Atty. Jacinto Sales Jr., Meralco’s Legal Counsel for External and Government Affairs, revealed that the proposed partnership includes converting SOCOTECO II into a stock corporation, allowing member-consumers to become shareholders and receive annual dividends.
The plan also ensures that SOCOTECO II’s board, management, and employees will be retained, while offering retraining and skills development.
Meralco’s proposal includes modernizing operations, upgrading distribution lines and metering systems, and reducing system loss—potentially lowering electricity rates.
Atty. Arnel Paciano D. Casanova, Meralco’s SVP and Chief Government Relations Officer, emphasized that the company’s return on investment will rely on improved service and sales, not rate hikes, which remain subject to Energy Regulatory Commission approval.
SOCOTECO II has yet to formally respond to Meralco’s letter of intent. Meanwhile, other energy firms like MORE Power and AboitizPower have also expressed interest in assisting the cooperative.
Founded in 1903, Meralco serves over 7 million customers across Metro Manila and nearby provinces and continues to lead in energy innovation and sustainability efforts nationwide.
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