The House of Representatives approves on second reading the bill renewing the franchise of Meralco for another 25 years.
Full story: https://www.rappler.com/business/meralco-franchise-renewal-passed-2nd-reading-overpricing/
Full story: https://www.rappler.com/business/meralco-franchise-renewal-passed-2nd-reading-overpricing/
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00:00The House of Representatives approves on second reading the bill renewing the franchise of
00:05Meralco for another 25 years.
00:07Meralco's current franchise is set to expire in 2028, but lawmakers aim to finalize its
00:12renewal ahead of the deadline.
00:14Meralco services around 25 percent of the Philippine population.
00:18The electricity distribution giant operates under a congressional franchise, which covers
00:22distribution to Metro Manila, Bulacan, Cavite, Rizal, and parts of Batangas, Laguna, Quezon,
00:27and Pampanga.
00:29At the House hearing, ACT Teacher's Party Representative Franz Castro asks whether Meralco
00:33has settled complaints of overpricing.
00:36Meralco will continue to use its current distribution rates until June 2026, the next scheduled
00:41review by the Energy Regulatory Commission.
00:43Suspended ERC Chair Mona Lisa de Malantas said that if the ERC allowed the rate reset,
00:48the commission may lower the rates, which will lead to lower electricity bills for consumers.