THE Manila Electric Co. (Meralco) has ramped up exploratory talks for the acquisition of distribution utilities (DUs) across the country.
Meralco Chairman Manuel V. Pangilinan said Friday the country’s largest power distributor might clinch some deals by next year.
“We’re looking at distribution utilities in the provinces. Quite a number we’re looking at,” Pangilinan told reporters.
Meralco’s move is part of its plan to expand its distribution network to other areas of the country by taking up DUs in provinces as far as northern and southern Luzon.
Pangilinan said the targeted DUs for acquisition are likely similar with its earlier deal with Pampanga Electric Cooperative 2 (Pelco II).
Meralco last year signed a technical services agreement with ComsTech for the investment and management contract of Pelco II as authorized by the National Electrification
Meralco has been tapped to upgrade the power distribution system of Pelco II, which is the distributor of electricity to the city of Mabalacat and towns of Guagua, Bacolor, Sta. Rita, Lubao, and Porac.
Meralco President and Chief Executive Officer (CEO) Oscar Reyes said earlier the utility firm was looking for opportunities to grow its electric distribution area in Luzon.
This is through acquisition of electric cooperatives and private DUs in areas that may go as far as La Union, Batangas, and Laguna.
To date, Meralco’s franchise area covers Metro Manila, Bulacan, Cavite and Rizal, as well as parts of Batangas, Laguna, Pampanga, and Quezon.