Marcos signs law extending Meralco franchise

President Ferdinand "Bongbong" Marcos Jr. has signed into law the proposed measure seeking to extend the franchise of power distributor Manila Electric Company (Meralco).

The President's act was confirmed Tuesday by Executive Secretary Lucas Bersamin.

"Signed by the President, not lapsed into law," Bersamin said in a message.

According to Bersamin, the law was signed on April 11. This will renew the franchise of Meralco for another 25 years.

In a separate statement, Meralco chairman Manuel Pangilinan said the renewal of the franchise "fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos across our franchise area."

Pangilinan thanked Marcos for his invaluable support for Meralco.

"The renewal reflects a shared effort to ensure that Meralco continues to meet the evolving needs of consumers through innovation, operational excellence, and dependable service," he said.

The long run

Pangilinan said the new franchise would enable the firm to implement long-term energy infrastructure projects, which will further improve the delivery of electricity to homes, businesses, and industries that fuel the country's development.

"It also allows us to continue investing in the modernization and expansion of our distribution network—making it more resilient to climate-related disruptions—while introducing innovations that enhance efficiency and raise customer experience," he said.

"Finally, it reinforces our common desire to attain substantial energy independence in the long run," he added.

Many business and industry groups in the country have backed the renewal of the company's franchise, including the Federation of Philippine Industries (FPI), the American Chamber of Commerce of the Philippines Inc. (AmCham) the British Chamber of Commerce of the Philippines (BCCP), and the Japanese Chamber of Commerce and Industry of the Philippines Inc. (JCCPI).

Too early?

Consumer advocacy groups People for Power (P4P) coalition and United Filipino Consumers and Commuters (UFCC), however, had previously raised concern about the "early push" for the Meralco's franchise renewal.

P4P convenor Gerry Arances earlier said renewing Meralco's franchise four years before it expires in 2028 "will remove the ability of the government to hold them to account and protect consumers."

The House of Representatives approved the bill extending the Meralco franchise for 25 years in August 2024, and the Senate passed its counterpart measure in February 2025. — VDV, GMA Integrated News