Manila Electric Company (MERALCO) is set to end 2024 on a strong note, with electricity sales surpassing targets, paving the way for a robust 2025.
In a report by Philippine Star, MERALCO Senior Vice President and Chief Revenue Officer Ferdinand Geluz projected a 6.3% increase in energy sales volume this year, reaching 54,259 gigawatt-hours (GWh) compared to 51,044 GWh in 2023.
Geluz attributed the growth primarily to higher consumption in residential and commercial segments.
He noted that sales might exceed the target by nearly 800 GWh, as the company initially aimed for 53,473 GWh in 2024, a 4.8% increase from 2023.
Additional factors driving the increase include new account energization and higher energy usage throughout 2024, partly due to the El Niño phenomenon.
MERALCO currently serves eight million customers across Metro Manila and nearby provinces under its franchise coverage.
Commercial energy sales rose due to the expansion of retail, real estate, hospitality, and leisure sectors.
In contrast, industrial sales remained flat, with slight gains in semiconductors, food and beverage, and plastics offset by declines in steel and embedded generation.
Official energy sales data for 2024 is expected to be released by mid-January, Geluz said.
MERALCO Chairman and CEO Manuel V. Pangilinan expressed optimism about the company’s continued growth, citing a positive economic outlook for the coming year.
Pangilinan described 2024 as a “great year” and predicted an even better 2025 for MERALCO.
The company allocated nearly Php 40 billion for capital expenditures this year, focusing on distribution utilities and power generation projects.
In 2025, MERALCO plans to increase its budget to support renewable energy projects, liquefied natural gas investments, and the enhancement of its distribution network’s resiliency.
There are no comments
Add yours