• Meralco posts 2.5% growth in Q1 sales

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    The volume of electricity sold by power distributor Manila Electric Company (Meralco) for the first quarter this year grew 2.5 percent to 7,908 gigawatt-hours (GWH) from 7,777 GWH for the same period last year, President Oscar Reyes said on Thursday.

    “Still, I think, on a year-to-date basis, we are not too different from last year. We’re a bit better than last year. This year’s a little cooler,” Reyes told reporters.

    He said the sales volume for January and February were about two percent higher compared to a year ago but he could not make any assurance that the upward trend will continue in the next quarter.

    “I think we have to see whether weather patterns are a bit different. Weather temperatures are difficult to predict,” Reyes said.

    Meralco’s electricity sales volume last year was 35,160 gigawatt hours or three percent more than in 2013. This is due largely to the combined commercial and industrial volumes of Meralco and its subsidiary Clark Electric Distribution Corp.

    Last year’s sales would have been higher if not for several factors such as cooler temperature in January to April 2014, disruptive typhoons such as Glenda and Ruby, and a thinning power supply reserves, according to company officials.

    Reyes attributed the higher sales volume to reliability of power plants and the increased demand due to weather conditions.

    “I think so far the plants are operating well. That’s why it helps provide the needed capacity to meet demand,” he said.

    Consolidated electricity revenues declined by 11 percent year-on-year, which was pegged at P261.7 billion last year.

    It posted a consolidated net income of P18.1 billion last year or five percent higher than 2013’s figures.

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