Meralco in January reported a modest 0.4 percent sales growth totaling 4,061 gigawatt hours (GWh) versus only 4,045 GWh in January last year. Despite the challenging market conditions, which included a high base from last year’s temperature-driven surge due to El Niño, the utility company showed resilience in key segments this year.
The growth was primarily fueled by positive performance from both the residential and commercial sectors, which helped offset a slight dip in industrial sales. Residential sales reached 1,425 GWh, up 0.2 percent from last year, while commercial sales climbed 1.04 percent to 1,564 GWh. However, both segments were impacted by reduced demand, partly due to long weekend holidays affecting household consumption and business operations.
In contrast, industrial sales fell by 0.3 percent, amounting to 1,059 GWh, mainly due to intermittent shutdowns in the food and beverage and steel industries.
Ferdinand Geluz, Meralco senior vice president and chief revenue officer, highlighted the company’s strategic adaptability in navigating a less robust demand environment. Despite slower overall consumption, Meralco’s diverse operations continue to provide stable growth prospects.
Looking ahead, Meralco remains optimistic. In October 2024, chairman and CEO Manuel Pangilinan expressed confidence in the company’s ability to achieve another profitable year, citing organic growth and contributions from new investments. The company is set to release its full 2024 financial results later this month, with projections indicating a potential record-high net income for the year.
