Meralco sees higher power sales this year

MANILA, Philippines — Power giant Manila Electric Co. (Meralco) still expects modest growth in energy sales this year despite the absence of the El Niño phenomenon that fueled consumer demand in 2024.

In a recent interview, Meralco senior vice president and chief revenue officer Ferdinand Geluz said the company is targeting a 4.5-percent increase in energy sales volume this year.

At this rate, the Manuel V. Pangilinan-led power distributor is on track to reach over 56,000 gigawatt-hours (GWh) in energy sales.

“Initially, we were targeting a five percent (growth), but our base was high. We exceeded six percent (last year), and we ended with a 6.4-percent increase,” Geluz said.

Meralco saw its energy sales heat up to 54,325 GWh in 2024 from the previous year’s 51,004 GWh as consumers heavily relied on cooling devices amid warmer temperatures caused by El Niño.

The improvement was largely propelled by the residential segment, followed by the commercial and industrial sectors.

“The first half (this year) is a bit challenging because we grew by nine percent last year due to El Niño, but most of the catch-up will likely happen in the second half,” Geluz said.

To sustain its momentum, Meralco is counting on customer energization and higher energy consumption, he said.

In November last year, the company’s customer base reached the eight-million mark.

According to Geluz, Meralco expects at least 200,000 new customers this year.

As the country’s largest power utility, Meralco provides electric service to customers within its franchise coverage, which includes Metro Manila and nearby provinces.

Last Friday, The STAR learned that House Bill 10926, which seeks to extend Meralco’s franchise for another 25 years, was transmitted to Malacañang for President Marcos’ signature.

Once enacted into law, the company will be granted the authority to continue constructing, operating and maintaining its power distribution systems until 2053.

Meralco’s current franchise is set to expire in 2028.