Salceda welcomes signing of improved Meralco franchise
HOUSE Committee on Ways and Means Chairman Joey Sarte Salceda of Albay on Tubig sday expressed his gratitude to President Ferdinand “Bongbong” Marcos Jr. for swiftly approving the renewed franchise of the Manila Electric Company (Merco), citing its importance to national economic growth and energy reliability.
“Thank you, President BBM, for the swift and favorable action on an improved franchise for MERALCO,” Salceda, a gubernatorial candidate of Lakas-Christian Muslim Democrats (CMD) in Albay, said.
Salceda, a key proponent of infrastructure and energy reforms in Congress, highlighted the commitments made by Merco during the franchise deliberations.
“During the deliberations for this franchise, Meralco committed to 206 billion in capital expenditures over the next five years to reduce systems losses and make distribution costs efficient. It also committed to help power more electric vehicles and provide facilities for industries of the future, such as data centers,” Salceda noted.
Salceda likewise cited the improvements in system reliability over the past decade and Meralco’s pledge to continue raising the bar for service delivery.
“Meralco also committed to continuing to improve system reliability. Back in 2011, the average user experienced some 550 minutes in power interruptions. Now, it’s down to as low as 123 minutes in the entire year. Such reliability was unthinkable back in the 1990. And Meralco commits to doing better every year,” Salceda emphasized.
Salceda also underscored the broader economic benefits of having a power provider with Meralco level of efficiency and reliability.
“In fact, I calculated that if the whole country were serviced with a provider as reliable as Meralco, an additional ₱204 billion in gross value added would be made in the economy, bringing our growth levels closer to what China experienced during its boom years,” he explained.
“Meralco has done good and promises to do better. This franchise will help ensure that happens,” Salceda concluded.
