BUSINESS
Advocates Philippines
House Approves 25-Year Franchise Renewal For Meralco And New Franchise For CASURECO IV
Photo credit: Meralco
The House of Representatives has approved on third and final reading House Bill No. 10926, which renews the franchise granted to the Manila Electric Company (Meralco) for another 25 years. The bill was passed with overwhelming support, garnering 186 votes in favor, 7 against, and 4 abstentions.
This franchise renewal, originally established under Republic Act 9209, allows Meralco to continue its vital role in distributing electricity across several areas. These include Metro Manila, Bulacan, Cavite, and Rizal, as well as select municipalities and barangays in Batangas, Laguna, Quezon, and Pampanga.
One of the key provisions of the bill is that Meralco is tasked with maintaining and operating its distribution systems with the highest standards. The company will also be required to upgrade its facilities and systems as technology advances, ensuring that the power supply remains efficient and up-to-date. The Energy Regulatory Commission (ERC) and the Department of Energy (DOE) will have oversight to ensure that these upgrades meet the necessary standards.
To ensure transparency and accountability, Meralco will be required to submit an annual report to Congress, detailing its financial and operational performance. The report must be submitted to the Committee on Legislative Franchises of the House of Representatives and the Senate's Committee on Public Services by April 30 each year.
The House also approved another bill, House Bill No. 10698, granting the Camarines Sur IV Electric Cooperative, Inc. (CASURECO IV) a new franchise to operate its own distribution system for electric power in several municipalities in Camarines Sur. The bill passed with 196 votes in favor, 1 against, and 1 abstention.
The approval of these bills ensures that both Meralco and CASURECO IV continue to provide reliable electricity services to their respective areas, while also adhering to government regulations and fostering transparency in their operations.
Among the key authors of the Meralco franchise renewal are Representatives Joey Sarte Salceda, Gus Tambunting, Rufus Rodriguez, Lord Allan Velasco, Kristine Singson-Meehan, Mercedes Alvarez, Marcelino Libanan, and Johnny Ty-Pimentel.
This franchise renewal, originally established under Republic Act 9209, allows Meralco to continue its vital role in distributing electricity across several areas. These include Metro Manila, Bulacan, Cavite, and Rizal, as well as select municipalities and barangays in Batangas, Laguna, Quezon, and Pampanga.
One of the key provisions of the bill is that Meralco is tasked with maintaining and operating its distribution systems with the highest standards. The company will also be required to upgrade its facilities and systems as technology advances, ensuring that the power supply remains efficient and up-to-date. The Energy Regulatory Commission (ERC) and the Department of Energy (DOE) will have oversight to ensure that these upgrades meet the necessary standards.
To ensure transparency and accountability, Meralco will be required to submit an annual report to Congress, detailing its financial and operational performance. The report must be submitted to the Committee on Legislative Franchises of the House of Representatives and the Senate's Committee on Public Services by April 30 each year.
The House also approved another bill, House Bill No. 10698, granting the Camarines Sur IV Electric Cooperative, Inc. (CASURECO IV) a new franchise to operate its own distribution system for electric power in several municipalities in Camarines Sur. The bill passed with 196 votes in favor, 1 against, and 1 abstention.
The approval of these bills ensures that both Meralco and CASURECO IV continue to provide reliable electricity services to their respective areas, while also adhering to government regulations and fostering transparency in their operations.
Among the key authors of the Meralco franchise renewal are Representatives Joey Sarte Salceda, Gus Tambunting, Rufus Rodriguez, Lord Allan Velasco, Kristine Singson-Meehan, Mercedes Alvarez, Marcelino Libanan, and Johnny Ty-Pimentel.
Nov 7, 2024
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