Meralco, Tokyo Electric ink technology exchange deal

Manila Electric Co. (Meralco) has entered into an agreement with Tokyo Electric Power Co. (TEPCO) for the exchange of technology and information.

The two power firms signed Tuesday a memorandum of understanding (MOU) wherein both parties expressed willingness to cooperate in the exchange of information and personnel, and other areas of cooperation.

Among the areas of cooperation based on the MOU would be deregulation and competition in the power sector; customer service policies; technical policies, standards and procedures; internal support policies such as automation and outsourcing and; benchmarking on various performance parameters.

"We are honored to have established ties with Tokyo Electric Power Co., one of the most recognized utility firms in Asia. We are hoping that this understanding will facilitate an exchange between Meralco and TEPCO that will ultimately improve both companies’ quality of service to its customers," Meralco chairman and CEO Manuel Lopez said.

Meralco is the country’s largest power distribution firm with over four million customers.

TEPCO is one of the new owners of Mirant Philippines Inc. Its officials are now in Manila to affirm its commitment to the Philippine power sector and expand its exposure in the energy industry.

It has been investing in the overseas power industry, providing consulting services that utilize expertise and know-how developed in Japan.

It also offers international consultancy services using advanced technology and expertise developed as a result of the company’s activities in Japan . 

The company has already established a solid track record with projects in a number of countries including: India, Vietnam, Turkey, Malaysia and Indonesia.

As of 2005, TEPCO provides power to an area with 43 million people or approximately 30 percent of Japan ’s total population and contributes ¥184 trillion or 40 percent to the nation’s economic output.