Power retailer Manila Electric Co. (Meralco) reported a 1.5-percent increase in consolidated distribution utility energy sales volumes in the first quarter to 12,493 gigawatt-hours from 12,307 GWh a year ago, driven by higher residential sales.
Meralco senior vice president and chief revenue officer Ferdinand Geluz said over the weekend residential sales climbed to 4,257 GWh in the first quarter, representing a 3-percent growth from 4,144 GWh in first quarter 2024, underpinned by sustained momentum from energization efforts and observed high heat index in the franchise area.
Geluz said commercial sales posted a slight 1-percent increase to 4,744 GWh in the first quarter from 4,679 GWh a year earlier, led by robust demand from consumer-facing establishments amid a slowdown in real estate.
“Industrial sales in Q1 were flat, inching up only 0.2 percent to 3,455 GWh from 3,448 GWh in Q1 2024, as gains from growth pillar sectors non-metallic, semiconductor, and plastics was muted by downturn in food & beverage and steel,” he said.
Geluz said Meralco is optimistic that DU energy sales would pick up in the second quarter, continuing to the second half, to reach the target of 4.5 percent by yearend.
He said this would be driven by the expected boost from higher consumer spending during midterm elections, better economy from lower inflation and interest rates as well as anticipated recovery in occupancy in real estate.
Meralco forecast better growth in the second quarter, but is “still assessing the forecast range,” he said.
“For April we are already seeing notable increase in net system input [energy] delivered to the Meralco system , a leading indicator that energy consumption is increasing,” Geluz said.