MANILA Electric Co. (Meralco), the country’s largest power utility, expects electricity sales to grow by 5.3 to 5.4 percent this year, company president Oscar Reyes said.
Last year, Meralco registered electricity sales of P261.7 billion, down 11 percent from P294.9 billion in 2013.
Reyes gave a rundown of what’s lifting this year’s volume.
“There are a number of factors which has helped drive electricity sales and demand higher,” he said.
He noted that inflation was at an all-time low, expanding the disposable income of consumers.
“This really affects the purchasing power of consumers. It leaves people more money to spend on things that drives electricity,” he said.
Even the cost of doing business has gone down, the Meralco official noted.
Reyes said the climate was also paying a key role in what’s happening to the country’s energy situation.
“Very peculiar, but June to November, temperature has been warmer so this is the first time that peak demand happened not within the summer months but (in August),” he said.
In addition, Reyes said the banking system was very liquid.
“There is so much money available for construction of vertical and horizontal housing units,” he said.