The largest utility in the Philippines, providing power for 3.9 million customers in metropolitan Manila and more than 100 surrounding communities. As deregulation takes effect, Meralco is reducing its dependence on state-owned National Power Corp. (Napocor). The utility purchased 65% of its electricity from Napocor in 2002 (compared to 90% in 2001); the rest comes from independent power producers. Meralco is also preparing for competition by moving into nonregulated activities, including energy consulting, independent power production, engineering, fiber optics, e-commerce, and real estate. The Philippine government has announced plans to sell its 10% stake in the company. Meralco is listed on the stock exchange.