Meralco seals pact with Kepco

By Lenie Lectura – March 4, 2025
from Business Mirror

The Manila Electric Co. (Meralco) and the Korea Electric Power Corp. (Kepco) are collaborating to accelerate the adoption of “cutting-edge” technologies in the Philippine energy industry.

The two companies signed a memorandum of understanding (MOU) to foster technical cooperation and exchange programs in the field of new energy technology. These include nuclear energy, renewable energy, smart grids, micro grids, energy storage systems, electric vehicles, advanced metering infrastructure, smart substations, and distribution automation.

“This memorandum of understanding marks an important step for both Kepco and Meralco. Enshrined here is a commitment to exchange knowledge, strengthen capabilities, and work together toward a smarter, more resilient energy future,” Meralco Chairman Manuel V. Pangilinan said in a statement.

Both companies will also engage on technical competency development through information and employee exchange programs for specific training courses. Additionally, they will explore potential collaborations in advisory and consulting services, as well as other power and energy initiatives of mutual interest.

“We’re looking forward to work together with Kepco. This collaboration allows us to refine our strategies, integrate new technologies, and find better ways to power the future. Beyond the business objectives, we want to forge and strengthen relationships that will drive meaningful progress,” added Pangilinan.

This latest partnership builds on Meralco’s earlier MOU with KEPCO, and its Knowledge Data Network signed in November last year to advance the use of smart metering technologies.

Last month, Meralco reported that its consolidated core net income (CCNI) rose to P45.1 billion from P43 billion in 2023 while net income grew 21 percent year-on-year to P45.9 billion last year.

The company attributed this to higher electricity sales and significant contributions from its generation business.

Revenues also increased to P470 billion, driven by the growth in electricity sales volume and higher pass-through transmission charge.

Meralco Chief Operating Officer Ronnie Aperocho described the utility firm’s financial performance last year as “remarkable” as its customer base surpassed the 8-million mark in October last year and it recorded an all-time high energy sales of 54,325 gigawatt.