Power retailer Manila Electric Co. reported a 3.4 percent sales volume growth reaching 24,458 gigawatthours during the first half of the year, driven by the strong performance of its commercial segment.
Meralco senior vice president Ferdinand Geluz said June sales alone grew four percent compared to the same period last year.
“Our June sales (for Meralco distribution utility only) is at 4,582 GWh, four percent increase versus June 2022 (4,405 GWh). This is the all-time highest month’s sales for Meralco,” Geluz said.
Commercial sales went up by 8 percent while residential also grew 6 percent in June.
“The usual drivers are retail and restaurant and hotels. Real estate also went up as BPOs continue to shift towards onsite,” Geluz said.
He said residential sales increased due to hotter temperatures and humidity experienced last month.
Industrial sales, however, declined by 4 percent year-on-year.
Meanwhile, commercial sales volume grew 10 percent in the first half due to the full face-to-face operations of businesses and school openings.
Residential sales went up by one percent but sales to industrial customers declined by two percent in the first six months.
Meralco posted a 2 percent sales volume growth in the first quarter.
Meralco’s consolidated core net income rose by 40 percent to P9 billion in the first three months from P6.4 billion in the same quarter in 2022.
