Meralco clarifies position in Nigeria project


The country’s largest power distribution utility is working out the part it will play in a power distribution partnership deal in Nigeria.

By the third or fourth quarter of this year, “we would have a clearer idea of what our scope of involvement will be in our technical partnership,” Manila Electric Co. president Oscar Reyes said.

The company is still in talks with its potential partner, Lagos-based Integrated Energy Distribution and Marketing Ltd. (IEDM).

Meralco and IEDM are part of a consortium that bagged crucial deals to take over two electricity distribution firms privatized by the Federal Republic of Nigeria.

The deal with IEDM is essentially a technical service agreement. The Nigerian firm needs Meralco’s expertise in power distribution. If plans go smoothly, Meralco may start getting fixed fees from the partnership’s activities by the second half of the year.

Reyes and Meralco chair Manuel V. Pangilinan both said the venture would enable Meralco to pursue more operations abroad.

Earlier this year, Meralco and its controlling stockholder, First Pacific Co. Ltd. of Hong Kong, sealed a $488-million deal to acquire a 70-percent stake in a liquefied natural gas (LNG)-fired power plant in Singapore.

First Pacific is also seeking opportunities in power, water, agriculture, and even mining in other countries such as Myanmar.

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • indiosbravos2002

    Meralco cant even make its Manila operations work effectively. Kaya lang naman.kumikita sila because they monopolize electricity distributiin tapos ang laki pa ng makrup nila. Wala talagang talo. Let see how good they are outside the country.

  • John Fereira

    Very good, sige bilisan ninyo para doon na kayo magkalugilugi. GOOD LUCK sa future loss.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


editors' picks



latest videos