Meralco franchise bill up for signing after House adopts Senate changes 

THE House of Representatives on Tuesday evening adopted the Senate’s changes to a bill, extending Manila Electric Co.’s (Meralco) franchise for another 25 years, allowing the chamber to send it straight to Malacaсang for President Ferdinand R. Marcos, Jr.’s signature. 

Senators on Monday approved on final reading House Bill No. 10926, which seeks to grant Meralco the franchise to construct, operate, and maintain its electric distribution systems in the greater Metro Manila area, including Bulacan, Cavite, Rizal, and parts of Batangas, Quezon, Laguna, and Pampanga. 

Meralco is the main power distributor for the National Capital Region and nearby areas, covering 39 cities and 72 municipalities, delivering electricity to at least 7.6 million Filipinos. It provides power to a region responsible for half of the country’s gross domestic product output. 

“The Senate passed with amendments House Bill No. 10926, renewing for another 25 years the franchise granted to Meralco,” Cagayan Rep. Ramon C. Nolasco, Jr. told the House floor.  

“We have been informed that the committee on legislative franchises, which sponsored the aforementioned bill, as well as the authors, has no objections with the Senate to the said measure,” he added.  

Bills seeking to provide a legislative franchise to companies first originate at the House, undergoing the same legislative process as regular bills, according to the Energy department.  

Congressmen gave their final nod to the bill in November, approving it four years ahead of its initial concession’s expiry.  

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Kenneth Christiane L. Basilio