Meralco - Best Annual Report

Company: Manila Electric Company (MERALCO), Metro Manila, Philippines
Company Description: Meralco is the largest private sector electric distribution utility in the Philippines. It covers 36 cities and 75 municipalities, with a franchise area of 9,685 square kilometers. This coverage is just 3% of the land area of the Philippines, but accounts for 55% of the country’s electricity output.
Nomination Category: Annual Report & Other Publication Categories
Nomination Sub Category: Best Annual Report - Privately-Owned Companies

Nomination Title: Power On: Meralco’s 2020 Annual Report

Date this annual report was first distributed: May 25, 2021

Meralco’s 2020 Annual Report, “Power On,” presents Meralco’s results amidst the challenges of 2020, foremost of which was the COVID-19 pandemic, and locally, the explosion of Taal Volcano, and threemajor typhoons in the last quarter.

As the Philippines’ largest electric distribution utility, Meralco plays a vital role in nation-building. Across all challenges, Meralcois committed to consistently deliver affordable, accessible, reliable and clean energy; and ultimately,ensuring customer satisfaction across all service touchpoints.

Power On details Meralco’s efforts to fulfill its roles – delivering reliable service by pivoting to digital solutions and ensuring system resiliency amidst disruptions. It also illustrates how Meralco embedded sustainability in its programs – preserving the planet, empowering its people, powering communities and creating prosperity for all.

To ensure consistency, accuracy, and transparency in reporting, Meralco complied with all applicable financial, legal, and regulatory requirements. Its reports have been validated by its Audit Committee and an independent auditor who assured compliance with Philippine Financial Reporting Standards.

Power On has been well-received by all stakeholders.It serves as the primary platform for communicating Meralco’s financial results and continuing efforts to keep the lights on and elevate customer experience as it navigates towards the new normal.