Power retailer Manila Electric Co. (Meralco) expects a 6-percent sales growth in August, led by the strong performance of all business segments despite the rainy season which brought cooler temperature, an executive said over the weekend.
“Too early, but indicative is still ok, close to 6 percent up versus August last year, and that will keep us close to 8 percent year to date,” Meralco senior vice president and chief revenue officer Ferdinand Geluz said.
Geluz said the residential segment is forecast to grow more than 11 percent and commercial to register “north” of 8 percent. The industrial is forecast to post a “modest” 3-percent growth.
He said Meralco’s year to date sales volume was around 7.8 percent or higher than a year ago.
“Growth [is] still robust, even with rainy season setting in, but not as high as the El Nino weather in the first half,” he said.
“Customer count growth is also robust with close to 220,000 net adds as we close in to our eight million customers milestone. We are now at 7.952 million,” he said.
Geluz expects the final sales figure to be finalized next week.
Meralco’s consolidated distribution utility energy sales volumes in the first half reached 26,954 gigawatt-hours (GWh), up from 24,792 GWh a year ago, as volumes of Meralco and Clark Electric Distribution Corp. went up by 9 percent and 7 percent, respectively.
Six-month sales volumes got a boost from the second-quarter sales which hit a new record – with monthly volumes breaching the 5,000 GWh-level in May, largely driven by the double-digit growth in residential and commercial segments.
The commercial segment had the biggest share of 37 percent in the energy sales mix, while residential and industrial accounted for 36 percent and 26 percent, respectively as of end June.
Consolidated customer count was at 7.9 million as of end-June, or 3-percent more than 7.7 million reported last year, with sustained efforts to energize new customers.
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