The Manila Electric Co. (Meralco) expects its total energy sales for 2025 to be “flattish,” or nearly unchanged from last year’s record levels, as weaker demand offsets the growth in new customers.
Senior vice president and chief revenue officer Ferdinand Geluz said during the Singapore International Energy Week that sales may drop by 0.5 to 0.8 percent this year, explaining that cooler temperatures in 2025 compared to last year’s extreme heat caused an “organic contraction” in electricity use. “Technically, because of the extreme temperature last year compared to this year, we lost around 950 gigawatt hours (GWh). So net on net, we’re minus 160 GWh,” Geluz said.
In 2024, Meralco recorded an all-time high of 54,325 GWh in sales. For 2025, volume may reach around 53,900 to 54,050 GWh. Despite this dip, Geluz said Meralco expects a rebound in 2026 as the company continues its “aggressive energization” drive and more normal weather returns. “As we continue our aggressive energization this year, it will some sort of generate a lot of sales next year,” he noted.
Meralco is also seeing opportunities as properties once used by Philippine offshore gaming operators (POGOs) are repurposed. Geluz cited Island Cove, formerly a POGO hub, which was acquired by EEI Corp. for development into a township. “We’re already talking to them,” he said, adding that some other vacated spaces are being converted into offices.
Economist Michael Ricafort of RCBC said that weather has played a major role in Meralco’s sales trends, saying that consumption surged during the 2024 El Niño and heatwave but slowed after it ended.
For consumers, the expected flat demand could help stabilize electricity prices in the near term, while future growth in energization and property redevelopment may improve service access and support economic activity in the longer run.
Meralco serves 8.18 million customers across Metro Manila and nearby provinces including Bulacan, Cavite, Rizal, Laguna, and parts of Batangas, Quezon, and Pampanga.
