Manila Electric Co - Company Profile
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Business Description
Manila Electric Co (Meralco), a subsidiary of First Pacific Co Ltd constructs, operates and maintains the electricity distribution system in the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal and barangays in the provinces of Batangas, Laguna, Pampanga, and Quezon. The company operates through two reportable business segments: Power and Other Services. In FY2022, the company’s capital expenditure stood at PHP33,663 million, which grew 28.2% YoY.
Business Segments
Overview
Carries out electricity distribution and power generation, and operates retail electricity supply (RES) unit. It also distributes electricity on pass-through basis covering all captive customers in its franchise area. The major operating subsidiaries include Clark Electric Distribution Corporation (CEDC), Clark Development Corporation (CDC) and Meralco PowerGen Corp (MGen).
Performance
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Overview
Provides engineering, design, construction and consulting, distribution and energy management, bill collection, and communications, information systems and technology services. Major operating subsidiaries include Meralco Industrial Engineering Services Corporation (MIESCOR), CIS Bayad Center, Inc., Lighthouse Overseas Insurance Limited, Republic Surety and Insurance Company, Inc., Meralco Financial Services Corporation, e-Meralco Ventures, Inc and Meralco Energy, Inc.
Performance
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