Investments
Beacon
MERALCO

 

Meralco - the Largest Distributor in the Country

  • Franchise until June 2008 to distribute to 5.2M customers.
  • Distributes 55% of the total electricity consumed in the Philippines equivalent to 74% of Luzon – growing at 4% in 2013 to 34,084gWH
  • Growing customer base - 3.4% in 2013, to 5.4 million customers;  Demand mix : Residential (30%) , Commercial (39%), and Industrial (31%) 
  • Regulated return based on regulatory asset base, valued to replacement cost every 4 years

 

 

 

KEY PRIORITIES

DISTRIBUTION UTILITY

  • 2015 Rate Rebasing 
  • Study acquisition of surrounding distribution concessions

 

POWER GENERATION (Model 50/50 MERALCO / Power Gen Partner)

Target Returns:  15% ROE for new power projects  (P33B Project equity on 50% share of P220B total project)

  • Baseload 
    • 460MW  San Buenaventura Power Limited (online by 2019)
    • 600MW Redondo Peninsula Energy Project – environmental case requires resolution; alternative projects being examined
  • Others -  22% stake in Global Business Power  (part of GT Cap) – 627MW Gross Capacity with another 82MW under construction / P7.2B investment
  • Overseas Investment – 800MW combined cycle LNG plant in Singapore / P8.8B investment - 28% effective ownership 
    • Launched in June 2014

 

RETAIL COMPETITION AND OPEN ACCESS 

  • Potential target margins of 7% at full roll-out

 


OWNERSHIP STRUCTURE







Official Website: http://www.meralco.com.ph/
MERALCO Disclosures: http://www.meralco.com.ph/company/page-about-disclosure-pse.html
MERALCO News: http://www.meralco.com.ph/company/page-about-news.html

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