The Manila Electric Co. (Meralco) reported a 2 percent increase in power sales volume in the first three months, driven higher by demand from the commercial sector.
Ferdinand Geluz, Meralco first vice president, chief commercial officer and head of customer retail services, said power sold during the period reached 11,287 gigawatt-hours (GWh) against only 11,069 GWh last year.
“Commercial was up 11 percent, residential down 3 percent and normalizing on close to pre-pandemic mobility with more face-to-face school and work arrangements, resulting to less time spent at home, and the late start of summer with lower average temperature,” Geluz told reporters.
Power sold to the industrial sector was also down 3 percent, he quickly added.
Meralco were to officially announce its first-quarter performance next week.
In the same period last year, Meralco reported a 10 percent increase in core net income of P5.62 billion compared to only P5.11 billion the year before. Its revenue also jumped by 33 percent to P85.9 billion from P64.7 billion.
Meralco attributed the rising numbers then to higher volumes of energy sold.
