PHILIPPINE STAR/BOY SANTOSPOWER distributor Manila Electric Co. (Meralco) saw a slight increase in its energy sales volume for January 2025 amid minimal growth in the residential and commercial sectors, a high-ranking official said.
Consolidated sales volume for the month rose by 0.4% to 4,061 gigawatt-hours (GWh) from 4,045 GWh in the same period last year, which saw a significant increase due to El Niño, according to Ferdinand O. Geluz, Meralco senior vice-president and chief revenue officer.
Residential energy sales climbed by 0.2% to 1,425 GWh, while commercial energy sales grew by 1.04% to 1,564 GWh.
“Both sectors experienced a slowdown in demand, with the impact of long weekend holidays on household consumption and business operations,” Mr. Geluz said.
Meanwhile, Meralco sold 1,059 GWh to the industrial sector, down 0.3% from the previous year due to intermittent shutdowns of key accounts in the food and beverage and steel industries.
For 2024, Meralco recorded a 6.4% increase in energy sales volume to 54,325 GWh, surpassing its target of 53,473 GWh for the year. The growth was attributed to warmer temperatures due to El Niño and sustained customer energization.
Meralco’s distribution business accounted for 59% or P20.5 billion of its core net income in the first nine months of 2024, which rose by 17% to P35.1 billion. The company expects to exceed its P43-billion profit target for the year, driven by strong performance across its business units.
Meralco has allocated P25 billion for distribution network capital expenditures this year, focusing on its storm-hardening program, distribution network digital transformation, and grid modernization initiatives.
Meralco serves as the primary power distributor for Metro Manila and nearby areas, covering 39 cities and 72 municipalities, with approximately eight million customers.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
