Cagayan de Oro 2nd District Representative Rufus B. Rodriguez today called for the grant of a fresh legislative franchise to Meralco, saying that doing so sends a strong signal of economic stability to potential investors–whether local or foreign.
Rodriguez, a member of the House Committees on Energy and Economic Affairs, recently filed House Bill No. 9813 for the grant of a 25-year legislative franchise to Meralco—a measure that the lawmaker emphasized is necessary to build investor confidence in the country.
This early on, Rodriguez said a legislative franchise should be granted to Meralco to show the government’s commitment to achieving energy security.
“Renewing the franchise of Meralco will show potential investors that capital-heavy investments can benefit from long-term stability here in the Philippines as it is safeguarded by the government. This in turn will result in improved service and economic conditions for Filipinos in the long run,” Rodriguez, who also sits as vice chairman of the House Committee on Trade and Industry, said.
Compared to areas serviced by electric cooperatives, Rodriguez said faster development can be observed in areas serviced by Meralco.
“Meralco-powered areas have demonstrated rapid economic growth in the past decades compared to those serviced by electric cooperatives. On this basis alone, it is imperative for the government to sustain this development in support of our economic trajectory,” the lawmaker added.
Rodriguez similarly highlighted Meralco’s initiatives to promote consumer interests which are easily overlooked.
The power distributor’s efforts to maintain a high level of service stability and reliability at the least cost consistent to its mandate and its initiatives to extend help even beyond its service area through its social development programs have benefitted not just its customers but even the underserved Filipinos in other parts of the country.
The lawmaker reiterated that Meralco has such a huge responsibility that it would be a disservice to compromise the welfare of consumers because of unfounded issues and allegations.
Meralco’s franchise is set to expire in 2028. As the largest electricity distributor in the country, Meralco services 7.8 million customers in Metro Manila, Bulacan, Cavite, Rizal, and select areas in Pampanga, Laguna, Batangas, and Quezon