Subscribers of Manila Electric Co. (Meralco) topped 8 million as of end-October 2024 on sustained efforts to energize new customers, a significant milestone for the country’s biggest power retailer.
“Yes, we hit 8 millionth last Oct. 29, 2024. Approximately 210,000 more customers compared to a year ago at around 7.79 [million]’ vs. 8 million. We ended the October 2024 month at 8.006 million versus 7.792 million in October 2023,” Meralco senior vice president and chief revenue officer Ferdinand Geluz.
Meralco executive vice president and chief operating officer Ronnie Aperocho said the company sees the need to be more aggressive in grid modernization projects and operational efficiency through advanced metering infrastructure that would lead to a more robust, resilient and intelligent network.
“Equally significant for Meralco is making sure that we are prepared to meet the supply needs of our customers without necessarily exposing them to volatile prices,” he said.
“To this end, our efforts are centered on competitive bidding, which historically yielded lowest rates that translate into savings for our millions of customers,” Aperocho said.
Meralco assured customers that it would remain proactive in working with the energy Industry players and the regulator in promoting consumer welfare.
Residential power consumption maintained a double-digit growth of 10 percent in the first nine months to 14,758 gigawatt-hours from 13,363 GWh a year ago, driven by sustained energization of new accountants, higher per capita demand, underpinned by warmer temperatures.
Commercial sales volumes saw an 8-percent increase to 15,261 GWh from 14,122 GWh last year despite the exit of offshore gaming operations and the continuing remote work arrangements.
Energy consumption of real estate was led by surging office occupancy rates from mixed-use developments, while the growth in retail, restaurants and hotels was anchored on new mall openings, increased leisure activities and higher foot traffic in food outlets.
Industrial sales continued to recover, posting a 2-percent increase to 10,743 GWh last year as plastics and food and beverage were fueled by increase in production lines due to ongoing academic year and holiday preparations.
