Meralco brings energy industry leadership and innovative programs to the global stage by winning two finalist citations at the prestigious 2017 S&P Global Platts Global Energy Awards, considered as the Oscars of the energy sector. The awards ceremony was held recently at a black-tie event in New York City.
Nominations have come from more than 28 countries including Brazil, India, Puerto Rico, Saudi Arabia, South Africa, Spain, Russia, Switzerland, Argentina, China, Pakistan, Bangladesh, Thailand, United Kingdom and the United States.
Meralco is the only Philippine company to be nominated in the Industry Leadership (Power) category, which awards successful development and implementation of a strategic plan that optimizes performance and growth while taking an aggressive, proactive approach toward a radically altered business and trading environment.
Meralco was recognized for the successful implementation of its System Loss Management Program (SLMP) which resulted in all-time best system loss level in 2016.
MERALCO’s system loss performance puts it at par with distribution utilities in developed countries like Australia, Great Britain and the US, despite having a franchise area with socio-economic conditions that still lag behind these countries.
Meralco’s prepaid electricity program, branded locally as Kuryente Load (KLoad), also made the final cut under the Breakthrough Solution of the Year category, which focuses on research and development, ingenuity and commercialization of new technologies.
Meralco KLoad is the first in the world to integrate the electric service with a telecommunications backbone, allowing daily account management via the mobile phone.
Consequently, it has enhanced service delivery and transformed customers’ lives from across various segments, and has achieved operational efficiencies for Meralco.
KLoad competed against the best innovative solutions from United States of America, Denmark, Japan and India.
The 2017 S&P Global Platts Global Energy Awards program honors businesses and individuals who have demonstrated innovation, leadership and superior performance.
This year’s award recipients have displayed an ability to read market shifts, assess their potential impact up and down the value chain, and plan appropriately.
Nearly all winners incorporated sustainable business practices and renewable energy into their business models. They recognize that long-term outcomes must often be prioritized over near-term financials.