MANILA Electric Co. (Meralco) said its power sales volume in September grew by 3.34 percent from a year ago.
Its year-to-date power sales volume also rose 7.1 percent to 40,331 gigawatt hours (GWh) compared to the first nine months of 2023.
These numbers exclude those of Meralco’s operations in Clark.
Ferdinand Geluz, Meralco chief revenue officer, told reporters over the weekend the growth was mainly driven by better performance in all three customer segments – residential, commercial and industrial.
Geluz said the company’s power sales volume last month was a bit “tempered” due to the effects of La Niña but the figures are still above its “internal target.”
“Our September 2024 sales is 4,553.51 GWh which is 3.34 percent increase versus same period last year. Growth for residential is at 4 percent, commercial is also at 4 percent and industrial at 2 percent,” Geluz said.
Last July, Meralco said its consolidated energy sales for the first half of the year grew by 9 percent to 26,954 GWh from 24,792 GWh in the same period in 2023, after its second-quarter sales hit a new record with monthly volumes breaching the 5,000 GWh-level in May.
Meralco also recently upgraded its performance outlook for the entire year citing strong operational and financial performance in the first half of the year, adjusting the initial guidance of P40 billion consolidated core net income to P43 billion for full year 2024.
For the first half of the year, Meralco’s net income rose by 26 percent to P23.12 billion from P18.35 billion in the same period in 2023. Its revenues also improved by 6 percent to P237.48 billion from P224.82 billion.
