House approves 25-year franchise extension for Meralco in Philippines

The House of Representatives in the Philippines has approved a new 25-year franchise for the Manila Electric Company (Meralco). The bill, known as House Bill No. 10926, passed with 186 votes in favor, seven against, and four abstentions. This approval comes despite Meralco's current franchise not expiring until 2028. The bill consolidates three previous proposals and was approved on second reading in September. Some lawmakers, like Kabataan Partylist Rep. Raoul Manuel, opposed the renewal, citing a lack of urgency and concerns over high electricity rates. He questioned the need for a quick approval and called for a more thorough evaluation of Meralco's performance.