Meralco keeps capex steady for the next four years

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Manila Electric Co. (Meralco) expects its capital expenditure for the next regulatory period spanning mid-2019 to mid-2023 to track around the same amount as the previous period, at around P18 billion a year, its president said.

Meralco President and Chief Executive Officer Oscar S. Reyes told reporters that the distribution utility expects the customer count in the four years starting July 2019 to grow around the same rate as the previous years.

He also said that the company is looking at a load growth similar as those of the previous years.

The Energy Regulatory Commission (ERC) regulates the power distribution utility within a so-called “reset period” consisting of four regulatory years. The company’s regulatory year begins on July 1 and ends on June 30 of the following year. Its fourth reset period began on July 1, 2015 and ends on June 30, 2019. It is awaiting the release by the ERC of the final rules governing the filing of its fourth reset application. — Victor V. Saulon