Power retailer Manila Electric Co. said sales volume will likely grow 6.5 percent in the first half amid the strong demand for electricity in its franchise area.
“For the first five months year to date, we had a growth of 7.5 percent per annum, but June is trending a little softer because rains have started and it’s been cool during the last three months,” Meralco president Oscar Reyes told reporters.
“I think we will probably end up end-June with roughly around 6.5 percent [growth],” he said.
Meralco recorded a sales growth of 5 percent to 42,102 gigawatt-hours in the first half of 2017.
“This year is higher because I think, to the country’s credit, industrial and commercial activities have been strong. Maybe it’s the growth of the economy,” Reyes said.
He said while demand was strong until May this year, the growth softened below 3 percent in June with the onset of the rainy season.
Meralco announced a 7-percent increase in consolidated core net income at P4.9 billion in the first quarter.