The Manila Electric Co. (Meralco) is confident it can exceed last year’s record net income of ₱50.57 billion, citing rising electricity demand and stronger business performance.
Speaking at the firm’s annual stockholders’ meeting, chairman Manuel Pangilinan said distribution volumes were 4 percent higher in May and likely 2–3 percent ahead in June compared to 2025. Its power generation arm is also performing better, with the Terra Solar project now delivering 250 MW of energy plus 450 MWh of battery storage to the grid.
Meralco is also exploring natural gas-fired power plants for the Visayas and possibly Mindanao. It has excess turbines totaling 435 MW from its Batangas projects—including the 1,278-MW Ilijan plant and a new 1,320-MW facility under construction. Visayas is prioritized due to higher power needs, with site assessments underway.
For the first quarter of 2026, consolidated core net income rose 2 percent to ₱11.4 billion, while revenues climbed 5 percent to ₱120.78 billion, supported by operational and financial improvements.
