Company Description
Clark Electric is the exclusive franchised distribution utility in the Clark Economic Zone. Organized on February 19, 1997 as a joint venture of Clark Development Corporation (CDC) and MIESCOR to serve the requirements of the Clark Economic Zone. Clark Electric was then 65% owned by MIESCOR and 35% by CDC. From 1997 up to June 2004, Clark Electric and Angeles Electric were both operating in the Clark Economic Zone. CDC, Clark Electric and Angeles Electric agreed to rationalize power distribution in the CEZ by having only one distributor. In July 2004, CDC divested its equity holdings in Clark Electric which paved the way for the buy-in of Angeles Electric. In February 2008, Meralco acquired the shares of MIESCOR making Clark Electric a partnership of two distribution utilities, Meralco and Angeles Electric.