The Manila Electric Co. (Meralco) on Monday reported sales growing 9 percent higher in the first five months from a year-earlier.
Ferdinand Geluz, Meralco senior vice president and chief revenue officer, said consolidated sales in May, inclusive of Clark Electric Development Corp. sales, hit the 5,000 gigawatt hour mark for the first time. This was also a 10 percent improvement from April this year and in May last year.
“June is also looking positive but may not be as high as the growth in the first five months with the onset of the rainy season and where the impact of typhoon Aghon during the last week of May on sales will hit,” Geluz said.
In April, Meralco announced an 11 percent increase in consolidated core net income in the first three months totaling P10.1 billion from only P9.05 billion a year earlier.
Meralco said the full year consolidated core net income may total over P40 billion this year.
The company said approximately 2.5 GWh of electricity is consumed everyday for every degree rise in temperature.
Last year, Meralco booked a 35 percent jump in net income of P38.68 billion compared to only P28.59 billion in 2022.
