Manila Electric Company (MERALCO) is anticipating that its customer base will exceed eight million next month, following strong growth in sales volume across multiple segments in the first nine months of 2024.
In a report by Manila Bulletin, the distribution utility (DU) firm reported a 3% rise in its customer count, increasing to 7.99 million as of September, from 7.77 million last year. This increase is attributed to ongoing efforts to expand its reach within its service area.
The energy sales volume also rose by 7% year-over-year, with the residential segment achieving a 10% growth to 14,758 gigawatt hours (GWh). Residential sales benefited from new account activations and post-pandemic consumption levels, holding a 36% share in the total energy sales mix.
Meanwhile, MERALCO’s commercial segment also grew by 8%, reaching 15,621 GWh. This segment’s growth was driven by a surge in energy use in real estate, retail, and hospitality, linked to higher occupancy rates and increased leisure activity. The commercial sector’s share of the energy mix remained at 37%.
Additionally, the industrial segment showed signs of recovery with a 2% increase in sales volumes, largely due to demand from the plastics, food and beverage, and semiconductor industries.
However, the sector’s share in the total energy sales mix dropped by 26%, partially impacted by lower dispatch from embedded generators and a dip in steel production.
Despite these fluctuations, MERALCO’s system loss remained low at 6.04%, under the regulatory cap.
