Meralco PowerGen Corporation (MGen) is incorporated to engage in the power generation business by pursuing the development and construction of cost-competitive and highly efficient power plants that will ensure adequate, reliable and affordable supply for electricity consumers.
The company aims to build a diversified power portfolio of up to 3,000 megawatts (MW) from now until 2020through a strong environmental stewardship and fuel selection driven by availability, reliability and cost-competitive price to the system.
This is part of an overall strategy to ensure that power generation is sustainable, efficient and maximized especially given growing on power supply security in the coming years.
MGEN is a wholly-owned subsidiary of the Manila Electric Company (Meralco), the largest electric distribution utility in the Philippines.
With over five million customers, the parent company accounts for nearly 75% of electricity sales in Luzon, which accounts for about 70% of the country’s gross domestic product.
In the Philippines as a whole, Meralco corners about 55% of total electricity sales in the Philippines and 50% of the total manufacturing output in the Philippines.
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