Power retailer Manila Electric Co. (Meralco) said its sales volume grew almost 9 percent in the first five months of 2024.
Sales in May reached a record, topping 5,000 gigawatt-hours amid high temperatures.
“This is the first time consolidated sales have breached 5,000 gigawatt-hours on a monthly basis,” said Meralco senior vice president and chief revenue officer Ferdinand Geluz. He said sales volume grew 10 percent year-on-year in May.
Meralco attributed the sales growth to high demand and sales volume, reflecting the hot weather last month.
“June is also shaping up positively, but growth may not be as high as the first five months due to the onset of the rainy season and the impact of typhoon Aghon, which hit in late May,” Geluz said. Meralco expects year-end sales growth of 5 percent to 6 percent. The company also anticipates robust second-quarter sales growth of 6 percent to 8 percent.
Geluz said the growth might be tempered in the third quarter due to the expected La Niña weather phenomenon.
“The third quarter, toward the second half, is usually the start of El Niño. These weather patterns swing in terms of temperature, but overall, we’re looking at a very good year for sales,” Geluz said.
Meralco’s consolidated distribution utility energy sales volume in the first quarter rose to 12,307 gigawatt-hours (GWh) from 11,287 GWh. Volumes from Meralco and Clark Electric Distribution Corp. increased by 9 percent and 7 percent, respectively.
The company attributed the strong quarterly sales volume growth to a confluence of factors, including higher temperatures (an average increase of 0.5 degrees Celsius, from 26.71 degrees Celsius to 27.21 degrees Celsius), the additional day in February due to the leap year and the recovering industrial segment.
Meralco said it observes about 2.5 GWh of additional consumption per day for every degree rise in temperature.
The commercial segment held the biggest share in the energy sales mix for the first quarter, at 38 percent. Residential and industrial sectors accounted for 34 percent and 28 percent, respectively.
