MANILA Electric Co. (Meralco) expects to end the year with energy sales volume increasing by 6%, exceeding last year’s growth, a company executive said.
“For 2024, (at) the start of the year, we forecasted around 4.7% (growth) but now we’re seeing 6%,” Meralco Senior Vice-President and Chief Revenue Officer Ferdinand O. Geluz told reporters last week.
“So, we’ll end the year (with) around 53,350 plus gigawatt- hours (GWh). That’s technically close to 3,000 GWh additional compared to 2023,” he added.
Mr. Geluz attributed the projected increase in energy sales volume to high growth in the residential segment, followed by commercial, and modest growth in the industrial segment.
For the January-to-September period, Meralco reported a record-high energy sales volume of 40,872 GWh, up 7% from 38,164 GWh last year, fueled by growth in all segments.
If the 6% growth projection for 2024 is realized, Meralco would surpass last year’s energy sales volume of 51,044 GWh.
For the third quarter, Meralco saw its consolidated core net income climb by 10% to P11.89 billion, driven by the continued momentum of the distribution utility, power generation, and retail electricity supply segments.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.
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