Meralco reported 2% electricity sales growth in first quarter
POWER retailer Manila Electric Co. said Thursday it posted a 2-percent increase in sales volume growth in the first quarter compared to the same period last year on the strong performance of the commercial segment.
“First quarter 2023 is at 11,287 gigawatt-hours, a 2-percent increase versus first quarter 2022 driven by double-digit commercial sales growth,” Meralco first vice president and chief commercial officer Ferdinand Geluz said.
He said commercial sales went up 11 percent, while the residential and industrial segments declined during the period.
Geluz said the residential segment fell 3 percent, “normalizing on close to pre-pandemic mobility with more faceto-face school and work arrangements resulting in less time spent at home and late start of summer [lower average temperature],” he said.
He said industrial sales declined 3 percent, but did not give additional details.
Meralco’s consolidated distribution utility energy sales volume sustained growth in 2022, recording an improvement of 6 percent to 48,916 GWh as sales demand continued its upward trajectory and businesses and public confidence recovered from the pandemic.
The commercial segment saw its share of the total sales increase to 36 percent from 33 percent in 2021.
Commercial sales volume grew 14 percent to 17,403 GWh in 2022 from 15,234 GWh in 2021 with the increase in mobility and economic activities.
Residential accounted for 35 percent of the total, down from 37 percent last year. Residential sales volume inched up by 1 percent to 17,148 GWh from 16,913 GWh as demand normalized with the resumption of travel and more face-to-face activities that led to less time spent at home by customers.
The industrial segment’s share was at 29 percent in 2022, down from 30 percent in 2021. Customers in the industrial segment registered 3 percent growth last year to 14,221 GWh due to increased commercial activity and demand for essentials boosted sales of food and beverage and plastic packaging.