The Manila Electric Co. (Meralco) expects electricity sales to grow by “close to 6 percent” this year compared to last year, buoyed by the strong recovery of various economic sectors. Know more:
The Manila Electric Co. expects electricity sales to grow by “close to 6 percent” this year compared to last year, buoyed by the strong recovery of various economic sectors.
He said the main drivers of the projected growth could be attributed to the strong commercial segment. “The rebound of the strong commercial segment as well as modest growth in industrial sector driven by some industries such as plant, F&B [food and beverage] really gave a boost.” Sales mix continued to shift towards the commercial segment, whose share in total sales rose to 35 percent from 33 percent a year ago. Residential accounted for 35 percent from 37 percent, while industrial segment’s contribution was retained at 30 percent.
The utility firm is also expecting to surpass last year’s core income of P24.6 billion after it posted P19.6 billion from January to September.
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