POWER distributor Manila Electric Co. (Meralco) expects a recovery in energy sales volume by the second half of the year, driven by a pickup in certain sectors within the commercial and industrial segments.
“On the second half, I think there will be some sort of a recovery,” Meralco Senior Vice-President and Chief Revenue Officer Ferdinand O. Geluz told reporters on Thursday.
Mr. Geluz said they expect the impact of the exit of Philippine offshore gaming operators (POGOs) last year — which affected the power consumption of several key commercial subsegments such as real estate and retail trade — to “normalize.”
The energization of data centers last year may also affect sales due to anticipated demand from their clients.
“We’re seeing some uptick in the construction industry, cement as well as glass. And somehow still after a long period of downturn, we are seeing a slight growth,” he said.
Meanwhile, Meralco expects “flattish” growth in energy sales volume for the first half, due to cooler weather during the period.
For this year, Meralco is targeting a 4.5% increase in energy sales volume, or at least 56,000 gigawatt-hours (GWh).
In 2024, Meralco’s energy sales volume rose by 6.4% to 54,325 GWh from 51,044 GWh in the previous year, driven by warmer temperatures due to El Niño and sustained customer energizations.
This exceeded the company’s target of 53,473 GWh for the year.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. – Sheldeen Joy Talavera
