Manila Electric Company · Pasig, Metro Manila Philippines ·(Philippine: MER)

Manila Electric Company (Meralco) is the largest utility in the Philippines, providing power to 4.6 million customers in 29 cities (including metropolitan Manila) and 82 municipalities. As deregulation takes effect, Meralco is reducing its dependence on state-owned National Power Corp. (Napocor) by increasing the amount of power it purchases from independent power producers. Meralco has prepared for greater competition by moving into nonregulated activities, including energy, fiber-optics, e-commerce, and real estate. In 2008 Philippine conglomerate San Miguel Corp. acquired the Philippine government's 27% stake in Meralco. It boosted this share to 48% in 2009 To read the full description, subscribe now.