THE Manila Electric Co. (Meralco) is on the lookout for distribution utilities (DUs) to expand its presence in the distribution sector, particularly outside of its franchise area.
The utility firm is currently eyeing to acquire two DUs, said its chairman Manuel V. Pangilinan.
“Still looking at more. I think there are one or two outside Luzon,” he said when asked of Meralco’s plans to acquire more DUs.
Meralco is the country’s largest electric power-distribution company. It is bent on acquiring DUs and or electric cooperatives not only to expand its presence, but to provide improved service and least cost of electricity outside of its franchise area.
“Maybe even just one acquisition this year. I can’t predict. Masalimuot din iyan,” Pangilinan said.
The utility firm has a franchise service area covering 9,337 square kilometers and distributes power to over 5 million customers in 34 cities and 77 municipalities in Metro Manila; the provinces of Rizal, Cavite and Bulacan; and parts of Pampanga, Batangas, Laguna and Quezon. It supplies power to about 75 percent of the power in Luzon and 55 percent of the whole country.
Meralco President Oscar Reyes earlier said Meralco is “looking for new opportunities in new areas.”
In particular, Reyes said the utility firm is “looking in the north from Pampanga all the way to La Union. In the south, from parts of Laguna, where we are not yet there, to Batangas.” He said Meralco’s interest could be “as far as parts of the Visayas and Mindanao.” “There are areas where Meralco can be of value because we have the resources, we have the track record, and we have the experience,” Reyes said.