Philippines-based Manila Electric Company (Meralco), an electric power distribution company, has allocated a budget of PHP149.66 billion for its capital expenditure program till 2026. The company is currently seeking approval of its Annual Revenue Requirement (ARR) and Performance Incentive Scheme (PIS) for the Fifth Regulatory Period (5RP) from the Energy Regulatory Commission (ERC).
Out of the total, PHP37.53 billion has been allocated for 2023, PHP43.5 billion will be spent during 2024, PHP36.37 billion in 2025, and a budget of PHP32.25 billion has been allocated for 2026.
Funds will be used to replace and renovate ageing and obsolete assets, and relocate assets required to complete government infrastructure and third-party initiated projects. It will also include the acquisition and development of non-network assets that are essential for the electric distribution system’s efficient functioning.
Meralco will also use the funds to boost the deployment automation and technology projects, as well as provide new age solutions for different electrification projects in the Philippines.