One, the House of Representatives passing on second reading of House Bill 10926 that seeks to extend the Manila Electric Co. (Meralco) franchise for another 25 years. Two, another successful competitive selection process (CSP) for 400 MW baseload need by Meralco which GN Power Dinginin (GNPD) leads with a low price of P7.6816/kwh. And three, low prices at the Wholesale Electricity Spot Market (WESM) of only P3.88/kwh for October billing.
Rep. Joey Salceda, a key sponsor of HB 10926, said in his sponsorship speech that Meralco has fairly complied with all the rules on CSP, low system loss charge, and thus provided its customers with "least cost, efficiency and reasonable price mandates." I will add that aside from least cost, it is power stability and dependability, avoidance of any blackout whenever possible that is the main contribution of Meralco and other dependable private distribution utilities in the country without tax subsidies and without patronage from political institutions like the National Electrification Administration. This kind of corporate continuity, less regulatory risks, and consumer protection via franchise extension will run from 2028 to 2053.
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