Power retailer Manila Electric Co. said it expects sales volume to rise 3.5 percent this year, slower than the estimated 8.1-percent growth in 2016.
Meralco senior vice president and head of customer retail services, corporate marketing and communications Al Panlilio said the growth figure in 2017 would be slower as the company “is coming from a big volume” in 2016.
Meralco estimated that sales volume hit close to 40,000 gigawatt-hours in 2016.
“Yes, that’s our estimate. May be 3 to 3.5 percent [growth this year],” Panlilio said, adding that the shutdown of Sunpower’s solar facility in the country last month could affect demand.
Meralco said volume growth likely increased 8.1 percent in 2016, higher than nearly six percent in 2015.
Sales volume in nine months ending September 2016 grew 9.5 percent to 30.103 gWh as sales across all customer classes remained strong.
Residential customers posted volume growth of 14 percent in the nine-month period on account of organic sales with lower power prices, benign inflation and new accounts.
Demand of commercial customers grew 9 percent year-on-year, supported by the business processing outsourcing, real estate, retail trade and hospitality industries.
Industrial volume rose 5 percent, supported by cement manufacturing, food and beverage and plastic and packaging industries.
“[It would be] 8.1 percent growth for the end of the year in sales for Meralco DU [distribution utility]. It’s gonna be roughly about 39,600 gWh,” Panlilio said earlier.
Panlilio said adding the sales volume of subsidiary Clark Electric Distribution Corp. with about 500 gWh, “so it will exceed the 40,000 gWh, consolidated.”
“I think that is the first time we are breaching 40,000 [gWh]. That’s the estimate.Last year growth was less than 6 percent,” he said.
He said the growth in power demand this year would be fueled by the commercial sector.
“We have Tiger Okada who’s coming up,” he said, referring to the largest resort and casino in Parañaque City.
Meralco, the country’s largest power distributor, has 6.1 million customers in Metro Manila and surrounding provinces.
Meralco reported an unaudited consolidated core net income of P15 billion in the first nine months of 2016.