General Santos City – Meralco, the country’s largest power distributor, assured residents of General Santos, Sarangani and parts of South Cotabato that its proposed partnership with SOCOTECO II is intended to strengthen the cooperative’s capacity, not replace it.
In a radio interview with RMN GenSan, Meralco's SVP External & Government Affairs Officer Atty. Arnel Paciano D. Casanova emphasized that Meralco’s role is to provide technical support, equipment, and investment to modernize SOCOTECO’s facilities.
“Hindi namin iti-take over ang SOCOTECO II,” he clarified. “Tutulungan natin ang SOCOTECO II na magkaroon ng kakayahan, equipment, teknolohiya, at ma-upgrade ang lahat ng sistema para umunlad ang ekonomiya.”
Casanova underscored Meralco’s 124‑year track record, pointing out that the company supplies more than half of the nation’s electricity and operates with remarkable efficiency. He noted that Meralco’s feeder loss—the amount of electricity lost along its distribution lines—is only 4.65 percent, one of the lowest in Asia.
By comparison, many cooperatives suffer double‑digit losses, which drive up electricity costs. He stressed that reducing system loss would further lower power rates, especially in Mindanao where generation costs are already cheaper than in Luzon and Visayas.
He also assured consumers that rates would not increase under a joint venture.
“Hindi tataas ang singil sa kuryente… in fact, baka bumaba pa,” Casanova said, citing Mindanao’s abundant supply and Meralco’s efficiency.
Meralco’s annual capital expenditure of ₱50 billion, he added, allows it to build substations, strengthen power lines, and invest in smart grid systems.
“Kami, service muna bago profit,” he said, underscoring the company’s commitment to reliable service.
Importantly, Casanova explained that member‑consumers would become true stakeholders under the proposal. “Magiging stockholder na sila ng SOCOTECO… kapag gumanda at naging profitable, they will receive dividends,” he said.
Ignite Power & Energy Corp. has also expressed interest in SOCOTECO II. The company is a joint venture between Enrique Razon-owned Primelectric Holdings and former Senator Manny Pacquiao’s MP Holdings, with Primelectric holding a 70 percent stake and MP Holdings 30 percent.
Meanwhile, consumer group Bantay Kuryente Movement has called for transparency, accountability, and competitive bidding in SOCOTECO II’s future, warning that privatization could reduce member‑consumers’ participation in decision‑making.
Casanova concluded that Meralco’s goal is transparency and public dialogue.
“At the end of the day, we are here to help the people. Para guminhawa ang kalagayan ng ating mga consumers.”
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