The Manila Electric Co. (Meralco) on Monday reported electricity sales in September that exclude its Clark Electric operations rising 3.34 percent higher than a year earlier.
Its year-to-date sales also increased 7.1 percent to 40,331 gigawatt-hours (GWh) compared to year-ago figures.
Ferdinand Geluz, Meralco senior vice president and chief revenue officer, told reporters the growth was driven by the performance of all three residential, commercial and industrial customer segments.
Geluz said the power sales in September proved tempered due to the effects of La Niña although the numbers remain above target.
“September sales of 4,553.51 GWh is 3.34 percent higher versus the same period last year. Residential growth is at 4 percent, commercial also at 4 percent and industrial at 2 percent,” Geluz said.
In July, Meralco reported consolidated energy sales in the first half higher by 9 percent to 26,954 GWh against only 24,792 GWh in 2023 as Meralco’s second-quarter sales set a new record with volume breaching the 5,000 GWh-level in May.
Meralco also upgraded its performance outlook for the year citing strong operational and financial performance in the first half, adjusting the initial guidance of P40 billion consolidated core net income to P43 billion.
In the first half, Meralco reported a 26 percent jump in net income to P23.12 billion compared to only P18.35 billion in the year-ago period.
Revenue also improved 6 percent to P237.48 billion from P224.82 billion.
