President Marcos has signed into law the proposed measure that seeks to extend the franchise of Manila Electric Company (Meralco), Malacañang said.
Executive Secretary Lucas Bersamin confirmed on Tuesday, April 15, that Marcos has signed Republic Act No. 12146 on April 11.
It extends the power distribution company's franchise to another 25 years.
"Signed by the President, not lapsed into law," Bersamin told reporters.
"Signed April 11, and for 25 years," he added.
In a statement, Meralco Chairman and CEO Manuel V. Pangilinan thanked the President for enacting the measure, saying that 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."
"We welcome the renewal of Meralco’s franchise—a recognition of our role in helping power the nation’s growth," Pangilinan said.
"This development fortifies our commitment to deliver stable, reliable, and affordable electricity to millions of Filipinos across our franchise area," he added.
Pangilinan further said that the fresh franchise will enable Meralco "to implement long-term energy infrastructure projects that will further improve the delivery of electricity to homes, businesses, and industries that fuel the country’s development."
It will also allow the company to continue investing in the modernization and expansion of its distribution network—making it more resilient to climate-related disruptions—while introducing innovations that enhance efficiency and raise customer experience.
"Finally, it reinforces our common desire to attain substantial energy independence in the long run," Pangilinan said.
The Meralco chairman vowed that they remain committed to transparency, regulatory compliance, and corporate social responsibility.
He added that Meralco stands firm in its mission to support the government’s nation building agenda, drive economic progress, and improve the lives and economic well-being of the people.