What is the history of MERALCO?

Answer 1

Another name for Meralco is Manila Electric Company. Meralco was founded on January 17, 1895 and by 1915 it's main income was coming from the generation of electricity. In 1925, Meralco was obtained by Associated Gas and Electric, a utility holding company.

Answer 2

The Manila Electric Company, or Meralco, is the Philippines' largest distributor of electrical power. The company holds the power distribution franchise for some 22 cities and 89 municipalities, including the capital city of Manila, as well as for the cities of San Juan, Las Piñas, Quezon, Malabon, Makati, Caloocan, Pasay, Mandaluyong, Paranaque, and Navotas. Meralco's 25-year franchise for these markets, awarded in 2003, gives the company control of the energy distribution services for an area of more than 9.3 thousand square kilometers and a population of more than 19.7 million--one-fourth of the Philippines' total population. The company boasts a coverage rate of more than 97 percent, the highest in the country. Each year, Meralco sells more than 23 million megawatt-hours (MWH), with residential and commercial sales each contributing roughly 35 percent, and industrial sales adding 30 percent. Formerly a power producer, Meralco purchases its power requirements primarily from government-owned National Power Corporation; since the beginning of the 2000s, however, the company has begun to purchase electricity from a number of newly established independent power producers, helping to lower its prices. Meralco also has started to diversify its operations in response to the deregulation of the Philippines power industry by extending into power generation, industrial construction and engineering, and other areas, including real estate development, e-commerce, and consultancy services. Meralco is led by Chairman and CEO Manuel M. Lopez, whose family, through direct and indirect holdings, retains control of some 25 percent of the company. The Lopez family, one of the country's most prominent, also controls conglomerate Benpres Holdings and other businesses.