Meralco

{{Short description|Largest electric power distribution company in the Philippines}} {{About|the electric power distribution company|other uses|Meralco (disambiguation)}} {{Use mdy dates|date=June 2020}} {{Use Philippine English|date=September 2022}} {{Infobox company | name = Manila Electric Company | former_names = Manila Electric Railroad and Light Company (1903–1919) | logo = 200px | logo_caption = Logo | image = Meralco (Ortigas Avenue, Pasig; 09-10-2019).jpg | image_caption = Meralco Building at the Meralco Compound in Pasig | type = Private/Public | traded_as = {{pse|MER}} | founded = {{start date and age|1903|03|24}} | founder = Charles M. Swift | predecessor = Compañía Electricista de Manila Compañía de Tranvías y Ferrocarriles de Filipinas | hq_location = Meralco Building, Ortigas Avenue, Pasig, Philippines | key_people = Manny Pangilinan, Chairman and CEO | industry = Power distributor | owner = see list | website = {{URL|www.meralco.com.ph}}| }}

The '''Manila Electric Company''', commonly referred to as '''Meralco''' ({{IPAc-en||m|ɜːr|ɑː|l|k|oʊ}}, {{IPA|tl|mɛˈɾalkɔ|lang}}, stylized in all caps), is the largest electric power distribution company in the Philippines. It is the sole electric power distributor in Metro Manila and holds the power distribution franchise for 39 cities and 72 municipalities, including all of Metro Manila and the exurbs that form Mega Manila.

The name "Meralco" is an acronym for '''Manila Electric Railroad and Light Company''', the company's official name until 1919.

==History== ===La Electricista=== Organized in 1891 and beginning operations in late 1900, '''La Electricista''' was the first electric company to provide electricity to Manila towards the close of the Spanish era. La Electricista had built a central power plant on Calle San Sebastián (now Hidalgo Street<ref>{{cite web|last=Martinez|first=Glenn|title=Old street names of Manila|url=http://traveleronfoot.wordpress.com/2008/07/10/old-street-names-of-manila/|work=Traveller on foot|date=July 10, 2008 |publisher=Wordpress}}</ref><ref>{{cite web|author=Ivan|title=Manila then and now|url=http://www.ivanlakwatsero.com/2011/08/manila-then-and-now.html|work=Blog|publisher=Ivan Lakwatsero|access-date=December 20, 2013}}</ref>) in Quiapo, Manila.<ref>{{cite web|title=Calle San Sebastian - Old photos|url=https://www.flickr.com/photos/bren/3845242630/|publisher=Flickr|access-date=December 20, 2013|date=August 22, 2009}}</ref> On January 17, 1895, its streetlights were turned on for the first time and by 1903, it had about 3,000 electric light customers.

===Founding of the Manila "Electricity", "Railroad" and "Lighting" Company (MERaLCo)=== On October 20, 1902, under the American Insular Government, the Second Philippine Commission began accepting bids to operate Manila's electric company, and by extension, providing public lighting to the city and its suburbs. Detroit entrepreneur Charles M. Swift was the sole bidder and on March 24, 1903, was granted the original basic franchise of the Manila Electric Company.<ref name=JRTR>{{cite news|last1=Satre|first1=Gary L.|title=The Metro Manila LRT System— A Historical Perspective|url=http://www.jrtr.net/jrtr16/pdf/f33_satre.pdf|access-date=November 18, 2015|issue=16|publisher=Japan Railway & Transport Review|date=June 1998|archive-url=https://web.archive.org/web/20060505060037/http://www.jrtr.net/jrtr16/pdf/f33_satre.pdf|archive-date=May 5, 2006}}</ref> March 24 thus is marked annually as the company's anniversary.

The Manila Electric Company acquired both La Electricista and the Compañía de los Tranvías de Filipinas, a firm that ran Manila's horse-drawn tramways which was founded in 1882.<ref name="NYTimesFeb1928">{{cite news |title=ELECTRICAL SERVICE IN THE PHILIPPINES; A 40,000 Horsepower Central Station Now Serves Manila and Suburbs. NEW PLAN BUILT IN 1905 Demand for Electric Lighting Grew Rapidly--6,000 Lamps in Streets Now. Pioneers on the Payroll. Nipa Hut Dwellers. |url=https://timesmachine.nytimes.com/timesmachine/1928/02/05/95550269.html?zoom=14.88 |access-date=April 25, 2017 |work=New York Times |date=February 5, 1928 |language=en |url-access=subscription}}</ref> Construction on the railed tramway began that same year. In addition to acquiring La Electricista's Calle San Sebastián power plant, the company built its own turbine rotated by water steam generating electricity plant on Isla de Provisor (later becoming the Manila Thermal Power Plant), which fuelled the railed tram system and eventually also provided the electric service. By 1906, the Manila Suburb Railway was founded and later merged with the Manila Electric Company. Forming the Manila Electric, Railway and Lighting Company. The name Manila Electricity, Lighting and Railroad Company (MELARCo) was also considered.{{Citation needed|date=July 2023}}

===Manila Suburban Railways Company=== Swift was awarded another franchise in 1906 to operate a {{convert|9.8|km}} extension line from Paco to Fort McKinley and Pasig and founded the '''Manila Suburban Railway''' to operate this franchise.<ref name=JRTR /> In 1919 this company merged with the Manila Electric Company.<ref name=JRTR /> This extension was one of the most profitable of MERALCO's lines.<ref name=JRTR />

By the 1920, MERALCO had invested in transportation and owned a 170-strong fleet of streetcars, before switching over to buses later in that decade.

The company operated 52-miles of trams until World War II. The equipment and tracks of the system were severely damaged during the war and had to be removed.<ref>{{cite book|last=Lexis Nexis|title=Mass Transit|publisher=PTN Pub. Co|year=1974|url=https://books.google.com/books?id=6VNUAAAAMAAJ&q=meralco+world+war|access-date=June 15, 2008|page=58}}</ref>

===Power generation and distribution=== thumb|left|Aerial view of Manila Electric Company Main Power Plant (foreground), 1940

By 1915, electricity generation and distribution became the main MERALCO's main income generator, overtaking its public transportation operations in terms of revenue. In 1919, it changed its official name to Manila Electric Company. By 1920, the company's power capacity had grown to 45 million kWh.

In 1925, MERALCO was acquired by the utility holding company Associated Gas and Electric, which had begun a massive expansion throughout the United States and Canada. With AGECO's financial backing, MERALCO began acquiring a number of existing utility companies in the Philippines, enabling the company to expand beyond Manila.

By 1930, MERALCO had completed construction of the Philippine's first hydroelectric power plant, the 23MW Botocan Hydro Station.<ref>{{Cite web|url=https://www.fundinguniverse.com/company-histories/manila-electric-company-meralco-history/|title=History of Manila Electric Company (Meralco)|website=FundingUniverse}}</ref> At the time, this plant was one of the largest engineering projects in Asia{{Citation needed|date=August 2010}} and constituted the largest single private capital investment in the Philippines.{{Citation needed|date=August 2010}} The additional capacity allowed the company to begin hooking up customers throughout the metropolitan area. [[File:Meralcojf.JPG|thumb|right|175px|Meralco office (Malolos City Cultural and Heritage House)]]

To drive demand for more power, MERALCO also opened a retail store in order to sell electric home appliances.{{Citation needed|date=February 2007}}

===World War II=== During the Second World War, the Japanese occupying forces forcibly transferred all of MERALCO's assets and holdings to the Japanese-controlled Taiwan Power Company.

===Postwar=== {{expand section|date=November 2022}} By the war's end, most of the former Meralco facilities had been destroyed. AGECO was reorganized as General Public Utilities Corporation or GPU in 1946. MERALCO's autobus franchise was sold to Halili Transport.

===Acquisition by the López group=== [[File:Meralco.jpg|thumbnail|250px|Meralco (López) Building along Ortigas Avenue, Pasig, Metro Manila.]] In 1962, Eugenio López, Sr. of the influential López family of Iloilo put together Meralco Securities Corporation (MSC), which acquired MERALCO, making it wholly Filipino-owned.<ref name="FPHChistory">{{cite web | url=https://www.fphc.com/gettoknow/our-history | title=Our History | First Philippine Holdings }}</ref> During 1962-72, he increased MERALCO's power generating capacity by five times with the building of additional power stations in the Manila area with two more planned in Rizal Province.<ref>{{Cite web |title=History of Manila Electric Company (Meralco) |url=https://www.fundinguniverse.com/company-histories/manila-electric-company-meralco-history/ |access-date=2025-08-12 |website=FundingUniverse |language=en}}</ref>

The Meralco Building, designed by National Artist of the Philippines for Architecture José María Zaragoza, was built during this period. The Meralco Theater within it was inaugurated shortly thereafter, in March 1969.<ref>{{Cite web|url=https://www.philstar.com/lifestyle/modern-living/2009/02/21/441716/meralco-theater-turns-40|title=Meralco Theater turns 40 {{!}} Philstar.com|website=philstar.com|access-date=July 6, 2018}}</ref>

===Martial law and Romualdez takeover=== In September 1972, President Ferdinand Marcos, who had begun feuding with the Lópezes,<ref name="Lelyveld1975">{{cite news | url=https://www.nytimes.com/1975/04/22/archives/rich-family-loses-power-in-bitter-feud-with-marcos.html | title=Rich Family Loses Power in Bitter Feud with Marcos | work=The New York Times | date=April 22, 1975 }}</ref> declared Martial Law, acquiring and consolidating power and effectively extending his powers beyond the constitutional term limit which would have forced him to step down in 1973.<ref name="Abinales&Amoroso20052">{{Cite book|title=State and society in the Philippines|last=N.|first=Abinales, P.|date=2005|publisher=Rowman & Littlefield Publishers|isbn=978-0-7425-1023-4|location=Lanham, MD|oclc=57452454}}</ref><ref name="Celoza1997">{{Cite book |url=https://books.google.com/books?id=Sp3U1oCNKlgC&q=celoza+sagittarius+soliman&pg=PA32 |title=Ferdinand Marcos and the Philippines: The Political Economy of Authoritarianism |last=Celoza |first=Albert F. |date=1997 |publisher=Greenwood Publishing Group |isbn=978-0-275-94137-6 }}</ref> A few weeks later in November 1972, he issued Presidential Decree № 40, which nationalized the country's electric generation and transmission. A few more weeks after that, Marcos had López' son and namesake, Eugenio "Geny" López, Jr. arrested without formal charges, claiming that the younger López had been involved in an alleged assassination attempt against him.<ref name="Lelyveld1975"/>

Geny's arrest became a bargaining chip which eventually compelled the Lopezes to sell their controlling share of Meralco Securities Corporation to Marcos' associates late in 1973.<ref name="Lelyveld1975"/> Ownership of Meralco Securities Corporation was placed under a newly created shell company called the Meralco Foundation, Inc., controlled by Marcos' brother-in-law Benjamin Romuáldez,<ref name="Lelyveld1975"/> which made a down payment of about $1,500 for a "very minimal" total sale price of about $28 million (200 million pesos at the prevailing rate). Installment payments were supposed to be due starting two years later.<ref name="CronyCapBranigin84">{{Cite news |last=Branigin |first=William |date=1984-08-16 |title='Crony Capitalism' Blamed for Economic Crisis |url=https://www.washingtonpost.com/archive/politics/1984/08/16/crony-capitalism-blamed-for-economic-crisis/d99e8760-087d-4d25-ad66-3d324150dc4d/ |access-date=2022-11-15 |newspaper=Washington Post |language=en-US}}</ref>

The Meralco Foundation takeover was immediately followed by a 100% increase in electric rates, with continuous increases throughout Romuáldez's management.<ref name="Manapat1991">{{Cite book |title=Some are smarter than others: the history of Marcos' crony capitalism |last=Ricardo. |first=Manapat |date=1991 |publisher=Aletheia Publications |isbn=971-91287-0-4 |location=New York |oclc=28428684}}</ref> A rate adjustment clause, which allowed MERALCO to adjust its rates depending on crude oil increases or higher dollar exchange rates, was also introduced.<ref name="Manapat1991" />

In 1977, MSC was renamed First Philippine Holdings Corporation.<ref name="FPHChistory"/>

By 1978, all of the Philippines' major power plants were owned and operated by Napocor, including the Metro Manila plants that MERALCO had built beforehand in the 1960s.{{citation needed|date=November 2022}} By the end of the Martial Law period in 1981, MERALCO expanded even further into Cavite and western parts of Laguna, Rizal and Quezon provinces, as well as parts of southern Bulacan.{{citation needed|date=November 2022}}

Meralco Foundation's control of MERALCO lasted until the People Power Revolution in February 1986 when it defaulted on its payments under the terms of the original turnover of shares in 1973,<ref name="FedericoPascualJr20020613">{{Cite news |url=https://www.philstar.com/opinion/2002/06/13/164435/lopezes-didn146t-get-back-meralco-silver-platter |title=Lopezes didn't get back Meralco on silver platter |last=Pascual |first=Federico D. Jr |date=2002-06-13 |work=The Philippine Star |access-date=2018-06-02}}</ref> although it took a five-year period before the shares were eventually reverted to the Lópezes in 1991.<ref name="FedericoPascualJr20020613"/>

===After martial law=== {{Missing information|section|the sequestration process of the Presidential Commission on Good Government|date=November 2022}} President Corazon Aquino reverted company ownership to the López Group.{{citation needed|date=November 2022}} She also enacted an executive order that allowed the company to directly compete with Napocor.<ref>{{cite book |author=Bello, Walden |author2=De Guzman, Marissa |author3=Malig, Mary Lou |author4=Docena, Herbert |title=The Anti-development State: The Political Economy of Permanent Crisis in the Philippines|publisher=Zed Books|year=2005|isbn=1-84277-631-2 |url=https://books.google.com/books?id=3S0ukwMn8LoC&q=meralco+world+war&pg=PA293|access-date=June 15, 2008|page=293}}</ref>

On March 18, 1989, MERALCO unveiled its new and current corporate logo.<ref>{{cite news|title=New Meralco logo unveiled|url=https://news.google.com/newspapers?nid=8cBNEdFwSQkC&dat=19890318&printsec=frontpage&hl=en|access-date=June 24, 2020|work=Manila Standard|publisher=Kagitingang Publications, Inc.|date=March 20, 1989|page=12}}</ref>

In 1990, MERALCO acquired the electric facilities and other assets of the Communications and Electric Development Authority, one of two companies that distributed power in Cavite Province for much of the 1970s and 80s.<ref>{{cite web |title=Acquisition by MERALCO of the electric facilities and other assets of the Communications and Electricity Development Authority of Cavite |url=https://www.doj.gov.ph/opinion.html?y=1990 |website=Department of Justice |access-date=8 November 2023}}</ref>

===Entry of First Pacific and JG Summit groups=== Between 2009 and 2012, the López Group would reduce its 33.4% holdings in MERALCO by selling most of its shares to the First Pacific Group.<ref>{{cite web|url=https://www.reuters.com/article/philippines-meralco/update-1-philippines-lopez-says-wants-out-of-meralco-idUSMAN6368520080508|title=Lopez says wants out of Meralco|work=Reuters|date=May 8, 2008|access-date=July 18, 2020}}</ref><ref name="The Philippine Star">{{cite web|url=https://www.philstar.com/business/2009/03/14/447928/pldt-buys-20-lopez-stake-meralco|title=PLDT buys 20% Lopez stake in Meralco|work=The Philippine Star|date=March 14, 2009|access-date=July 18, 2020}}</ref><ref>{{cite web|url=https://www.gmanetwork.com/news/money/companies/183403/metro-pacific-piltel-to-form-holding-firm-for-meralco-shares/story/|title=Metro Pacific, Piltel to form holding firm for Meralco shares|work=GMA News|date=February 8, 2010|access-date=July 18, 2020}}</ref> By 2012, the López Group's holdings in MERALCO would be reduced to 3.95%.<ref>{{cite web|url=https://www.philstar.com/business/2012/02/01/772783/lopez-completes-sale-266-meralco-stake|title=Lopez completes sale of 2.66% Meralco stake|first=Zinnia|last=dela Pena|work=The Philippine Star|date=February 1, 2012|access-date=July 18, 2020}}</ref>

The First Pacific Group, through Metro Pacific Investments Corporation (MPIC), currently holds the majority share in MERALCO,<ref name="The Philippine Star"/> followed by the Gokongwei Family's JG Summit Group. (See further: ownership )

===Early renewal initiatives during the 16th Congress=== {{see also|16th Congress of the Philippines}} In 2014 and 2015, MERALCO requested the 16th Congress to tackle the extension of its franchise early, although its renewal was not due until six years later, in 2020.

===Franchise renewal=== On April 11, 2025, President Bongbong Marcos signed Republic Act No. 12146 which renewed MERALCO's franchise for another 25 years from its expiration in 2028.<ref>{{cite PH act|chamber=RA|number=12146|title=AN ACT RENEWING FOR ANOTHER TWENTY-FIVE (25) YEARS THE FRANCHISE GRANTED TO THE MANILA ELECTRIC COMPANY UNDER REPUBLIC ACT NO. 9209, ENTITLED, “AN ACT GRANTING THE MANILA ELECTRIC COMPANY A FRANCHISE TO CONSTRUCT, OPERATE AND MAINTAIN A DISTRIBUTION SYSTEM FOR THE CONVEYANCE OF ELECTRIC POWER TO THE END-USERS IN THE CITIES/MUNICIPALITIES OF METRO MANILA, BULACAN, CAVITE AND RIZAL, AND CERTAIN CITIES/MUNICIPALITIES/BARANGAYS IN BATANGAS, LAGUNA, QUEZON AND PAMPANGA”|url=https://www.officialgazette.gov.ph/2025/04/11/republic-act-no-12146/ |date=April 11, 2025|website=Official Gazette of the Republic of the Philippines}}</ref><ref>{{cite web |last1=Maligro |first1=Tatiana |title=Marcos extends Meralco's franchise for another 25 years |url=https://www.rappler.com/business/marcos-jr-extends-meralco-franchise-april-2025/ |website=RAPPLER |access-date=July 29, 2025 |date=April 15, 2025}}</ref><ref>{{cite web |last1=Cabato |first1=Luisa |title=Marcos signs law renewing Meralco's franchise for another 25 years |url=https://business.inquirer.net/520018/marcos-extends-meralco-franchise-for-another-25-years |website=INQUIRER.net |access-date=July 29, 2025 |language=en |date=April 15, 2025}}</ref><ref>{{cite web |last1=Talavera |first1=Sheldeen Joy |title=Meralco franchise renewed for 25 years |url=https://www.bworldonline.com/top-stories/2025/04/16/666252/meralco-franchise-renewed-for-25-years/ |website=BusinessWorld Online |access-date=July 29, 2025 |date=April 16, 2025}}</ref>

==Controversies== ===2008 legislative investigation on high power rates=== Meralco is facing a Philippine legislative inquiry/investigation for alleged excessive pricing.<ref>{{cite news |url=https://www.gmanetwork.com/news/news/nation/94884/house-panel-begins-probe-into-high-power-rates/story/ |work=GMA News Online |title=House panel begins probe into high power rates |date=May 13, 2008}}</ref> The government has considered a plan to take over Meralco, to reduce electricity bills. Meralco and National Transmission Corporation (TransCo) blamed each other for the high power rates.<ref>{{cite news |url=https://www.abs-cbn.com/business/06/21/10/napocor-meralco-eye-higher-power-rates |work=ABS-CBN News |title=Napocor, Meralco eye higher power rates |date=June 21, 2010}}</ref> Meralco also blames high power generation costs, high transmission costs and government taxes imposed on the electricity sector from power generation to distribution. Government Service Insurance System (GSIS) President Winston García, however, blamed Meralco's inefficiency, its "bloated bureaucracy" and its sourcing of power from independent power producers (IPPs) also owned by the López Family, and the need to amend the Electric Power Industry Reform Act (EPIRA) of 2001. Oscar López said that if the GSIS would buy the Meralco shares, they must buy in whole cash, while many businessmen also said that taking over Meralco is not the way to reduce electricity prices, which depends on the national government and the President. The issue was also seen as a purposeful diversion from the then-ongoing ZTE NBN scandal and other government issues.<ref>{{cite news |url=https://www.abs-cbn.com/nation/05/13/08/high-power-rates-blamed-meralco-govt-ipps |work=ABS-CBN News |title=High power rates blamed on Meralco, gov't, IPPs |author=Dizon, David |date=May 13, 2008}}</ref> A perceived lack of general understanding regarding the issue of system loss, inherent in the business of utilities prompted Meralco's former holding company, First Philippine Holdings, to issue advertisements explaining systems loss. The latter had featured Judy Ann Santos prominently to the extent she received bashing/online hate and calls for the general public to boycott her - not watch any shows or movies she was or would be starring in, as well as patronize products she was an endorser for.<ref name="miss_systems_loss_pstar">{{Cite web|url=https://www.philstar.com/news-commentary/2008/06/04/65828/juday-takes-heat-meralco-ad|title=Juday takes heat for Meralco ad|first=Katherine|last=Adraneda|website=Philstar.com}}</ref>

===Syndicated ''estafa'' and bribery case=== The Department of Justice (Philippines) filed syndicated (fraud) charges against Meralco in its August 22, 2008 31-page resolution, filed with the Pasig Regional Trial Court. The May 29 National Association of Electricity Consumers for Reform (Nasecore) complaint accused Meralco of "illegally declaring as income ₱889 million in consumers' money, which represents interest from meter and bill deposits consumers had been paying since 1995."<ref>{{cite news |url=https://www.gmanetwork.com/news/news/nation/115480/doj-charges-meralco-with-syndicated-estafa/story/ |work=GMA News Online |title=DOJ charges Meralco with syndicated estafa |date=August 22, 2008}}</ref> No bail was recommended for all the accused, 2006 officers of Meralco, to wit: Meralco chairman and CEO Manuel Lopez, executive vice president and chief financial officer Daniel Tagaza, first Vice-resident and treasurer Rafael Andrada, vice president and corporate auditor and compliance officer Helen De Guzman, vice president and assistant comptroller Antonio Valera, and senior assistant vice president and assistant treasurer Manolo Fernando; 2006 Meralco directors Arthur Defensor Jr., Gregory Domingo, Octavio Victor Espiritu, Christian Monsod, Federico Puno, Washington Sycip, Emilio Vicens, Francisco Viray and former Prime Minister Cesar Virata.

Nasecore's complaint accusing Meralco of "illegally declaring as income 889 million pesos in consumers' money, which represents interest from meter and bill deposits consumers had been paying since 1995," was immediately refuted by the accused company as the alleged ₱889 million only stemmed from a generally accepted accounting principle of reversing Meralco's earlier provision for meter deposit interests which, earlier set at 10% per annum was deemed too high and was set to the recommended 6%.<ref>{{cite news |url=https://www.philstar.com/headlines/2008/08/23/81014/doj-files-estafa-raps-vs-meralco |title=DOJ files estafa raps vs Meralco |work=Philstar |author=Frialde, Mike |date=August 23, 2008}}</ref> Meralco also questioned how a syndicated estafa case can arise when it has already announced and committed that it will be refunding to customers who paid meter deposit principals plus interest months ahead of the ERC prescribed schedule and has allocated enough funds for the said refund.

Meralco is also involved in the GSIS-Meralco bribery case.<ref>{{cite news |url=http://newsinfo.inquirer.net/breakingnews/metro/view/20080822-156292/DoJ-files-syndicated-fraud-raps-vs-Meralco-execs |title=DoJ files syndicated fraud raps vs Meralco execs |archive-url=https://web.archive.org/web/20080916232128/http://newsinfo.inquirer.net/breakingnews/metro/view/20080822-156292/DoJ-files-syndicated-fraud-raps-vs-Meralco-execs |archive-date=September 16, 2008 |date=August 22, 2008 |author=Torres, Tetch |work=Inquirer.net}}</ref>

===Dismissal of syndicated ''estafa'' case=== On October 6, 2008, the Pasig Regional Trial Court Branch 71 dismissed the syndicated ''estafa'' case filed against the Meralco board of directors, for the prosecution failed to establish all the elements of syndicated ''estafa''.

Presiding Judge Franco Falcon, pointed out in the ruling that the board is not the kind described by the law as being formed to perpetrate an illegal act for the board of directors were elected by stockholders. The court explained, "Therefore, the accused can never be charged of taking part in the commission of syndicated ''estafa'' not only because they are not part of a syndicate as contemplated by law in PD 1689, but more so, because there was absolutely no ''estafa'' committed."

According to Philippine law, to constitute syndicated ''estafa'', the subject money or property must be received by the offenders. The money represents the accrued interests on the bill and meter deposits, which were paid by Meralco customers, not directly to the board, but to the various Meralco business centers where the customers transacted. Meralco expressed elation over the dismissal.<ref>http://balita.ph/2008/10/15/meralco-exec-expresses-elation-for-dismissal-of-estafa-case-filed-by-doj/{{dead link|date=January 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

===Judiciary's decision on 1999 disconnection incident=== A complaint was filed by Lucy Yu against Meralco which, on December 9, 1999, its representatives, forcibly entering her office at the New Supersonic Industrial Corp. in Valenzuela, shut off the electricity in the factory and Yu's residence.

The Court of Appeals later ruled that Meralco violated the law when it cut off the electric supply of a consumer without notice; the decision was later upheld by the Supreme Court in late June 2023, with Yu being entitled to ₱150,000 in damages. The court said that a written notice must be given to the consumer at least 48 hours prior to Meralco's disconnection of its electric service on grounds cited under Section 4(a) of ''Republic Act No. 7832''; in that case, a consumer's right to due process was violated.

Spokesperson Joe Zaldarriaga, in a statement, said that Meralco will respect and abide by the said decision; however, he said that the incident occurred when Meralco was already implementing a policy of serving prior disconnection notices.<ref>{{cite news |last1=Sy Cua |first1=Aric John |last2=Cueto |first2=Francis Earl |date=July 1, 2023 |title=Meralco won't challenge Supreme Court ruling |url=https://www.manilatimes.net/2023/07/01/news/national/meralco-wont-challenge-supreme-court-ruling/1898510/ |work=The Manila Times |access-date=July 13, 2023}}</ref>

=== Allocation of the 2.4 GHz ISM band === The 2.4 GHz band is mostly used by Wi-Fi and Bluetooth. In 1993, the National Telecommunications Commission allocated the 2.4 GHz band for the exclusive use by Meralco in Metro Manila, Central Luzon, and Calabarzon for the operation of their Supervisory Control and Data Access (SCADA) system which controls and monitors Meralco’s substations.<ref>{{Cite web |title=Field of dreams |url=https://www.philstar.com/business/2003/08/13/217052/field-dreams |access-date=2024-05-14 |website=Philstar.com}}</ref> This has made the use of the 2.4 GHz band in the Philippines illegal, in spite of the International Telecommunication Union declaring the 2.4 GHz band as an ISM unlicensed band.<ref>{{Cite web |last=Buelva |first=Alma |title=Bullish on Bluetooth |url=https://www.philstar.com/business/technology/2002/09/27/177628/bullish-bluetooth |access-date=2024-05-14 |website=Philstar.com}}</ref>

On September 12, 2003, the NTC issued Memorandum Circular No. 09-09-2003, which lifted the ban on the 2.4 GHz band.<ref>{{Cite web |last=Oliva |first=Erwin Lemuel |date=2003-08-19 |title=NTC issues new wi-fi rules, lifts ban on 2.4 GHz-use |url=http://www.inq7.net/inf/2003/aug/19/inf_1-1.htm |archive-url=https://web.archive.org/web/20061025203501/http://www.inq7.net/inf/2003/aug/19/inf_1-1.htm |archive-date=2006-10-25 |website=INQ7.net}}</ref>

Meralco serves Metro Manila, where it is the sole electricity distributor, as well as parts of the nearby provinces of Bulacan, Cavite, Laguna, Batangas, Rizal, Quezon, and Pampanga. Bulacan, Cavite, and Rizal are entirely within Meralco's franchise area. In Laguna and Quezon, Meralco serves most areas, while other areas, mostly rural municipalities, are served by electric cooperatives.

In Batangas, Meralco serves Santo Tomas, the First Philippine Industrial Park and First Industrial Township Special Economic Zone in Tanauan, Batangas City, San Pascual, and parts of Laurel, Calaca, and Nasugbu, including Barangays Niyugan and Dayap Itaas in Laurel, parts of Barangay Cahil in Calaca, and Barangay Kaylaway in Nasugbu, while the rest of the province is served by electric cooperatives. In Pampanga, the company serves some barangays in Candaba.

thumb|A Meralco service truck

{| border="0" class="sortable" |'''City/Municipality'''|| '''Province/Metropolitan Area''' |- |Caloocan||Metro Manila |- |Las Piñas||Metro Manila |- |Makati||Metro Manila |- |Malabon||Metro Manila |- |Mandaluyong||Metro Manila |- |Manila||Metro Manila |- |Marikina||Metro Manila |- |Muntinlupa||Metro Manila |- |Navotas||Metro Manila |- |Parañaque||Metro Manila |- |Pasay||Metro Manila |- |Pasig||Metro Manila |- |Pateros||Metro Manila |- |Quezon City||Metro Manila |- |San Juan||Metro Manila |- |Taguig||Metro Manila |- |Valenzuela||Metro Manila |- |Angat||Bulacan |- |Balagtas||Bulacan |- |Baliuag||Bulacan |- |Bocaue||Bulacan |- |Bulacan||Bulacan |- |Bustos||Bulacan |- |Calumpit||Bulacan |- |Doña Remedios Trinidad||Bulacan |- |Guiguinto||Bulacan |- |Hagonoy||Bulacan |- |Malolos||Bulacan |- |Marilao||Bulacan |- |Meycauayan||Bulacan |- |Norzagaray||Bulacan |- |Obando||Bulacan |- |Pandi||Bulacan |- |Paombong||Bulacan |- |Plaridel||Bulacan |- |Pulilan||Bulacan |- |San Ildefonso||Bulacan |- |San Jose Del Monte||Bulacan |- |San Miguel||Bulacan |- |San Rafael||Bulacan |- |Santa Maria||Bulacan |- |Candaba||Pampanga |- |Batangas||Batangas |- |San Pascual||Batangas |- |Santo Tomas||Batangas |- |Alfonso||Cavite |- |Amadeo||Cavite |- |Bacoor||Cavite |- |Carmona||Cavite |- |Cavite||Cavite |- |Dasmariñas||Cavite |- |General Emilio Aguinaldo||Cavite |- |General Mariano Alvarez||Cavite |- |General Trias||Cavite |- |Imus||Cavite |- |Indang||Cavite |- |Kawit||Cavite |- |Magallanes||Cavite |- |Maragondon||Cavite |- |Mendez||Cavite |- |Naic||Cavite |- |Noveleta||Cavite |- |Rosario||Cavite |- |Silang||Cavite |- |Tagaytay||Cavite |- |Tanza||Cavite |- |Ternate||Cavite |- |Trece Martires||Cavite |- |Alaminos||Laguna |- |Bay||Laguna |- |Biñan||Laguna |- |Cabuyao||Laguna |- |Calamba||Laguna |- |Calauan||Laguna |- |Liliw||Laguna |- |Los Baños||Laguna |- |Luisiana||Laguna |- |Magdalena||Laguna |- |Majayjay||Laguna |- |Nagcarlan||Laguna |- |Pila||Laguna |- |Rizal||Laguna |- |San Pablo||Laguna |- |San Pedro||Laguna |- |Santa Cruz||Laguna |- |Santa Rosa||Laguna |- |Victoria||Laguna |- |Candelaria||Quezon |- |Dolores||Quezon |- |Lucban||Quezon |- |Lucena||Quezon |- |Mauban||Quezon |- |Pagbilao||Quezon |- |Sampaloc||Quezon |- |San Antonio||Quezon |- |Sariaya||Quezon |- |Tayabas||Quezon |- |Tiaong||Quezon |- |Angono||Rizal |- |Antipolo||Rizal |- |Baras||Rizal |- |Binangonan||Rizal |- |Cainta||Rizal |- |Cardona||Rizal |- |Jalajala||Rizal |- |Morong||Rizal |- |Pililla||Rizal |- |Rodriguez||Rizal |- |San Mateo||Rizal |- |Tanay||Rizal |- |Taytay||Rizal |- |Teresa||Rizal |}

==Ownership== MERALCO is 48% owned by First Pacific-owned &/or linked, and Manny Pangilinan-led entities<ref name="insiderph-miguel-SMC-shares-from-LBP">{{Cite web|url=https://insiderph.com/the-p23-b-question-mvp-weighs-purchase-of-san-miguels-newly-acquired-meralco-shares|title=The P23-B question: MVP weighs purchase of San Miguel’s newly acquired Meralco shares|website=insiderph.com}}</ref>. It's public ownership level is at 26.09%%<ref>{{cite web |title=MER Public Ownership Report (POR) as of 250630 as filed with PSE.com.ph |url=https://edge.pse.com.ph/openDiscViewer.do?edge_no=d0c15e16b2172e44ec6e1601ccee8f59 |access-date=18 July 2025 |website=edge.pse.com.ph |publisher=The Philippine Stock Exchange, Inc.}}</ref> with the following breakdown as of June 30, 2025,<ref>{{cite web |title=SMC Top 100 Stockholders (Common Shares) as filed with PSE.com.ph |url=https://edge.pse.com.ph/openDiscViewer.do?edge_no=095507fc1741f973ec6e1601ccee8f59 |access-date=23 July 2025 |website=edge.pse.com.ph |publisher=The Philippine Stock Exchange, Inc.}}</ref> and as amended on July 23, 2025 regarding transfer of shares in escrow from Landbank of the Philippines to a San Miguel Corporation subsidiary:

{{Aligned table | cols=4 | class=wikitable sortable | col3align=right | col4align=right | row1header=y | Major Shareholder | % of Total* | Common Shares | Preferred* Shares | Beacon Electric Asset Holdings, Inc. | {{center|34.96%}} | 394,059,235 | {{center|—}} | JG Summit Holdings, Inc. | {{center|26.37%}} | 297,189,397 | {{center|—}} | Metro Pacific Investments Corp. | {{center|12.50%}} | 140,906,807 | {{center|—}} | PCD NOMINEE CORPORATION (FILIPINO)** | {{center|9.2%}} | 103,696,498| {{center|—}} | PCD NOMINEE CORPORATION (NON−FILIPINO)** | {{center|6.00%}} | 66,414,005 | {{center|—}} | First Philippine Holdings Corporation | {{center|4.0%}} | 44,382,436| {{center|—}} | San Miguel Global Power Holdings ( a unit of San Miguel Corporation<ref name="inq_723_mer_shares">{{Cite web|url=https://business.inquirer.net/537139/san-miguel-gets-3-8-stake-in-meralco|title=San Miguel gets 3.8% stake in Meralco|first=Lisbet K.|last=Esmael|date=July 23, 2025|website=INQUIRER.net}}</ref><ref name="mb__723_mer_shares">{{Cite web | url=https://mb.com.ph/2025/07/23/ramon-ang-returns-to-meralco-with-39-billion-san-miguel-stake | title=Ramon Ang returns to Meralco with ₱3.9-billion San Miguel stake | website=mb.com.ph | date=2025-07-23}}</ref><ref name="bilyo">{{Cite web|url=https://bilyonaryo.com/2025/07/23/chill-lang-muna-rsa-still-pondering-next-move-for-meralco-stake-after-17-year-wait-p20b-paper-gain/business/|title=Chill lang muna! RSA still pondering next move for Meralco stake after 17-year wait, ₱20B paper gain|first=Bench|last=Abadilla|date=July 23, 2025|website=bilyonaryo.com}}</ref><ref name="insiderph">{{Cite web|url=https://insiderph.com/tycoon-ramon-angs-smc-is-back-in-meralco-with-p39-b-stake-after-17-year-delay|title=Tycoon Ramon Ang's SMC is back in Meralco with P3.9-B stake after 17-year delay|website=insiderph.com}}</ref>) | {{center|3.8355%}} | 43,229,796<ref name="colfi_">{{Cite web | title=News Story | url=https://ph4.colfinancial.com/ape/Final2/quotes/PSE_NewsStory.asp?SQ=28&Title=BLOCK%20SALE:%20%2043,229,796%20MER%20%2090.00%20259%20%2009:00:00 | access-date=2025-07-27 | website=ph4.colfinancial.com}}</ref>| {{center|—}} | Others^ | {{center|3.1345%}} | {{center|37,214,335}} | {{center|—}} | Total Authorized<ref name="240701_GIS_page3">{{Cite web | url=https://www.pds.com.ph/wp-content/uploads/2024/07/Disclosure-No.-2331-2024-General-Information-Sheet-SEC-Form-17-C-Amended-1.pdf | title=Amended general information sheet for the year 2024 - Manila electric company | website=www.pds.com.ph}}</ref> | {{center|—}} | {{center|1,250,000,000}} | {{center|3,000,000,000}} | Total Outstanding| {{center|100%}} | {{center|1,127,092,509}} | {{center|(undisclosed)}} }} * In [https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/1/37041 Gamboa v. Finance Secretary Teves (G.R. No. 176579 | June 28, 2011)]: The Supreme Court of the Philippines ruled that under Section 11, Article XII of the Constitution, “capital” in a public utility refers only to shares entitled to vote in the election of directors. Thus, Preferred shares that have been vested with such power are included in the relevant computations, in addition to common shares that naturally are appurtenant with voting privileges in every aspect. ** While the Philippine Central Depository (PCD) is listed a major shareholder, it is more of a trustee-nominee for all shares lodged in the PCD system rather than a single owner/shareholder. Major beneficial shareholders (''i.e.'' those who own at least 5% of outstanding capital stock with voting rights) hidden, if any, under the PCD system are checked/identified and are disclosed with the Definitive Information Statement companies are submitting annually to the local bourse and Securities and Exchange Commission <ref name="GLOBETELECOM24_IS_DEF"> {{Cite web |title=PAGE 11 - DEFINITIVE Information Statement of [GLOBE TELECOM], INC. |url=https://www.globe.com.ph/sites/globe.com.ph/files/2024-03/GLO-Definitive-Information-Statement_SECReceived-March19v2.pdf |access-date=April 4, 2024 |website=Globe Telecom - Investor Relations}} </ref><ref name="pldt_pds2022disclo__page3o4__note10">{{Cite web| title=Computation of Public Ownership (Common Stock) as of December 31, 2022 | url=https://www.pds.com.ph/wp-content/uploads/2023/01/Disclosure-No.-345-2023-Public-Ownership-Report-as-of-December-31-2022.pdf | archive-url=https://web.archive.org/web/20241004004932/https://www.pds.com.ph/wp-content/uploads/2023/01/Disclosure-No.-345-2023-Public-Ownership-Report-as-of-December-31-2022.pdf | archive-date=2024-10-04}}</ref>

==Sports teams== *Meralco Reddy Kilowatts (MICAA basketball team) *Meralco Bolts (PBA team) *FC Meralco Manila (Philippines Football League team) *Meralco Power Spikers (Shakey's V-League and Philippine Super Liga team)

== References == {{Reflist}}

Category:Electric power companies of the Philippines Category:Companies listed on the Philippine Stock Exchange Category:Companies based in Pasig Category:Companies in the PSE Composite Index Category:Lopez Group of Companies