GENERAL SANTOS CITY — The Manila Electric Co. (Meralco) formally presented its proposal for a joint venture with South Cotabato II Electric Cooperative (SOCOTECO II) during the 31st Regular Session of the 21st Sangguniang Panlungsod on April 14.
Representing Meralco, Senior Vice President and Chief External and Government Affairs Officer Atty. Arnel Paciano Casanova assured the city council that the plan does not involve a takeover of SOCOTECO II.
Under the Meralco model, electric cooperatives would be converted into stock corporations, enabling member-consumer-owners (MCOs) to become actual shareholders. Casanova described this as a way to “democratize access to power” by making the public real stakeholders in the distribution system.
“There is no new corporation. SOCOTECO II remains as it is. It will simply become a stock corporation where all MCOs will have shares under their names. In our proposal, they will directly receive dividends from SOCOTECO II’s operations,” Casanova explained.
He emphasized that the proposal is an equity infusion, meaning SOCOTECO II would retain its franchise and remain owned by its MCOs.
Meralco’s role, he said, is to help expand assets, modernize facilities, and strengthen operations. The company also committed to retaining existing employees while improving benefits and training.
Meralco positioned itself as a long-term strategic partner capable of supporting rehabilitation and modernization of SOCOTECO II’s distribution system.
Casanova further called for a public bidding process, stressing that MCOs should have the final say in choosing the right partner.
“At the end of the day, the future of the cooperative rests upon the shoulders of the MCOs themselves,” he added.
Outside the session hall, an unidentified group staged an anti-Meralco protest. However, the Bantay Kuryente Movement (BKM) issued a statement clarifying that it was not affiliated with the demonstrators.
BKM noted that while the protesters carried “anti-Meralco” slogans, they also displayed tarpaulins bearing BKM’s name and the slogan “Competitive bidding atong iduso.” The group condemned the unauthorized use of its materials.
“While we appreciate the call for competitive bidding, the group’s position is inconsistent with its anti-Meralco sentiment. By definition, competitive bidding opens the process to all qualified companies—including Ignite Power and Meralco,” BKM said.
The movement urged the public to remain vigilant, verify information carefully, and seek accurate knowledge on the issue.
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