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The consolidated bill that seeks to grant the Manila Electric Co.(Meralco) a new 25-year franchise has been approved by the House Committee on Legislative Franchises.

Committee Chairman Paranaque City 2nd district Rep. Gus Tambunting told the panel members during a hearing Monday, Aug. 12 that aside from the backing of many legislators, various business organizations have also expressed their support for the immediate renewal of Meralco’s franchise.

Three measures--House Bill (HB) Nos.9793, 9813, and 10317--have been filed in the 19th Congress in the bid to grant an early extension to Meralco’s franchise, which is set to expire in 2028.

The bills were filed by Albay 2nd district Rep. Joey Salceda, Cagayan de Oro 2nd district Rep. Rufus Rodriguez, and Marinduque lone district Rep. Lord Allan Velasco.

“For the past few months we have held meetings to discuss the franchise application of Meralco. Since then, we have received various letters of support,” said Tambunting as he identified nearly two dozen business groups, including industry federations as well as the Japanese and British chambers of commerce.

Meralco, the country’s largest power distributor, mainly services the National Capital Region (NCR), which accounts for more than half of the country’s gross domestic product (GDP).

In pushing for the bill's approval, Rodriguez said that marathon hearings conducted by the Committee on Legislative Franchise in recent months have managed to tackle all the issues concerning the renewal of Meralco’s franchise.

Velasco, a former House Speaker, echoed this sentiment. “Everything has been fully discussed. No other issue has been put forward. Meralco has long been serving our country well and they deserve to be granted a new franchise."

"I thank Chairman Gus Tambunting for his fair and extensive evaluation of the proposed extension of the franchise," Salceda said in a separate statement following the committee approval.

"The franchise is possibly the single most important private bill for industrial policy in this country. Meralco services an area responsible for about half the country's entire GDP, and about 26 percent of the population," he said.

The economist-solon adds that Meralco "is an exemplar of how service reliability can create economic growth and development".

"Meralco has also fully complied with the ERC's (Energy Regulatory Commission) rules and issuances. Some P48.3 billion in consumer refunds have also been delivered in full," he further said.

Looking ahead, Salceda said he expects the franchise bill to sail smoothly through the plenary floor.

"The role of the franchise review process in Congress is to see whether a grantee has complied with its mandates. In this regard, there can be little question. Meralco has fulfilled its end of the current franchise law," the Bicolano said.