January 24, 2018, 9:44 am
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Power distributor’s sales up 5% in 2017

Manila Electric Co. (Meralco) recorded a 4.9-percent growth in energy sales in 2017 due to strong  demand across all sectors, according to Oscar Reyes,  president and chief executive officer.

 Reyes said the 4.9 percent growth for 2017 is substantial especially coming from a high base of 8.1 percent growth in 2016.  

“Surprisingly, industrial has shown significant growth, so with commercial. All of them  (segments) on  average (grew) around 4.5 percent,” he added.

The company said growth is substantial especially coming from a high base in 2016 that resulted from election-related activities.

Meralco said it is not expecting any power shortages this summer saying  Luzon has enough installed capacity to meet  demand,  barring  scheduled and forced outages or any Malampaya shutdown.

The company also reiterated the need to fill the regulatory vacuum at the Energy Regulatory Commission saying that would help assure there will be no power shortage in the near future.

Reyes said Meralco has pending power supply agreements (PSA) from plants whose earliest commercial operations date is by mid-2019. 

He said  at present, Meralco does not have PSAs or any interim PSAs that will be required for additional supply by summer time. 

However, Reyes reiterated that “early action” is still needed to solve the regulatory vacuum as it will impact on the timing and availability of power in 2019 up to 2021.   

“We  want to be able to assure our customers in the Meralco franchise area that we will have adequate, reliable, least cost power. That’s why regulatory action and approval of our power supply agreements is critical,” Reyes added.

Meralco said it will likely record only up to 3.5 percent growth in its sales volume this year due to the efficient use of electricity of consumers.

The increasing adoption of distributed generation especially solar rooftop installations also affects Meralco’s  sales volume. 
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