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| Potential Impact of this News | POSITIVE on the stock price |
| Company | Manila Electric Co. (Meralco) |
| Stock Code | MER |
| Long-term Recommendation on the Stock | Hold |
| 1-Year Target Price | PHP 351.25 |
MER is exploring the possibility of deploying both small modular reactors (SMRs) and conventional nuclear reactors to help meet the government’s target of generating 1,200 megawatts (MW) of nuclear energy by 2032, a company official said.
“If the government has this plan to have 1,200 megawatts of nuclear (energy) by 2032, micro-modular (reactor) is not enough. We need to look into SMR and maybe conventional nuclear,” Meralco Executive Vice-President and Chief Operating Officer Ronnie L. Aperocho said during a briefing on Monday.
Under the Clean Energy Scenario of the Department of Energy’s Philippine Energy Plan for 2030-2050, nuclear energy is projected to have an installed capacity of 1,200 MW by 2032, 2,400 MW by 2035, and 4,800 MW by 2050.
“We think that nuclear power plant is part of that infrastructure for us to really address the power problems in the country,” Mr. Aperocho said.
Mr. Aperocho said that the company is seeking to meet “a lot of leading players in the nuclear energy industry” in the United States, Canada, and South Korea to explore partnerships.
Meralco First Vice-President and Head of Networks Froilan J. Savet said that some company officials will travel to Ontario, Canada, to sign a memorandum of understanding (MoU) for sending scholars to study nuclear engineering.
“As part of that trip also, we are going to Illinois to sign an MoU with the University of Illinois because we’re going to send two scholars on nuclear engineering,” he said.
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