Power retailer Manila Electric Co. said electricity sales rose 4.6 percent in the first nine months from a year ago, boosted by strong demand in September.
Meralco senior vice president Alfredo Panlilio said September sales alone grew 7.5 percent from a year ago.
Panlilio said Meralco sold 27,113 gigawatt-hours in the January-September period from 25,930 gWh in the same period last year.
“All segments [industrial, commercial and residential] are up,” Panlilio said.
Meralco’s September sales this year climbed to 3,231 GWh from 3,005GWh recorded in September last year.
“Likewise, a growth of 7.5 percent for the month of September this year was reflected. This is 3,231 gWh for September 2015, or plus 226 gWh versus September 2014 of 3,005Gwh,” he said.
Meralco is set to release the third-quarter financial results next week.
Meralco said core net income rose 17.9 percent in the first half to P11.64 billion ffrom P9.87 billion in the same period last year, on strong sales of commercial customers.
Meralco’s reported net income also went up 21.9 percent in the six-month period to P11.747 billion from P9.637 billion.
Total electricity sales volume grew 3 percent in the first half to 17,753 gWh, with an all-time high volume realized in the month of June at 3,441 gWh.
Commercial sales volume grew strongest in the first six months of 2015, registering a record 4 percent increase, with real estate, hotels and restaurants and trade driving the growth.
Residential customers’ sales volume expanded 3 percent as per capita consumption of the mid-to-low customer segments was higher with record-low inflation rate of 1.2 percent at the end of the first half, the lowest in two decades.
Industrial sales volume grew one percent supported by food and beverage, rubber and plastic products and basic metals.
Meralco chairman Manuel Pangilinan earlier said the second-half financial performance would have its challenges.
“A reduced distribution tariff from our last implemented rate in the third regulatory period of P1.5563 per kWh an interim average rate of P1.3810 per kWh, scheduled plant maintenance shutdown and higher operating expenses for project development costs of our subsidiaries, will weigh down on Meralco’s second half results,” Pangilinan said.
Pangilinan said the lower interim average rate would have an impact to the company’s finances of about P2.2 billion. However, the company’s P18.5 billion full-year core net income forecast this year is still higher than the 2014 core net income of P18 billion.
“While we expect volume in the second half of 2015 to be slightly better than the first half, absent destructive weather disturbances, the lower interim rate implemented will weigh in on our results. On this basis, we guide our full-year results at P18.5 billion,” he said.