Several groups endorsing the power distributor believe that the renewal of Meralco's franchise will ensure stable, reliable, and low-cost power.
The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) has joined the chorus of industry stalwarts endorsing the franchise renewal of Manila Electric Company (Meralco) to ensure supply stability, reliability, adequacy and least cost of power will continue to permeate over the operating environment said groups are currently operating in.
In a letter dated June 4, SEIPI President Dan Lachica asked House of Representatives chairman of Committee on Legislative Franchises Gustavo Tambunting to "favorably consider" SEIPI's position in the ongoing deliberations of Meralco's legislative franchise.
"Amidst the country's ongoing economic progress, we extend our full support for Meralco's franchise renewal as they contributed significantly to the industry's status as the country's leading exporter. This will give confidence to foreign investors, as it will signal stability in our economic landscape," Lachica said.
He further underscored the collaborative nature of the relationship between SEIPI and Meralco, stating that Meralco has been a valuable 'collaborative partner' to SEIPI and its member companies.
"The utility had been providing excellent service and constantly investing in capital expenditure projects in economic zone locations and industrial parks to meet the robust power quality needed by our industry to be globally competitive," Lachica added.
SEIPI is a leading organization of multinational and Filipino-owned semiconductor and electronics companies in the Philippines. It has over 360 members, including manufacturing firms, allied and support industries, and the academe.
SEIPI, as an umbrella organization, has stated in the past that its members heavily rely on power quality, stability of supply vis-a-vis demand, and sound policy advocacies, which Meralco, as the premiere distribution utility in the country, can provide.
Besides SEIPI, other influential business groups that backed Meralco's continued operation and formally manifested support for its franchise renewal are the Management Association of the Philippines, Makati Business Club, and Private Electric Power Operators Association.
Early this week, MBC called on Congress to renew Meralco's franchise. The club emphasized the importance of stability in the power sector to "serve the best interests of the Filipino people and the Philippine economy."
"Meralco is the largest private distribution utility in the country, their network plays a pivotal role in ensuring reliable and accessible electricity for households and businesses in the country's key economic regions," the MBC said.
Previously, the Management Association of the Philippines (MAP) and Private Electric Power Operators Association (PEPOA) have expressed support for renewing Meralco's franchise for the same reasons.
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