Electricity retailer Manila Electric Co. expects energy sales to decline by as much as 10 percent this year amid the impact of coronavirus pandemic.
“For 2020, the level of total energy sales is expected to contract by as much as 10 percent due to the effect of the COVID-19 enhanced community quarantine from March 16 to May 31,” Meralco said in its latest power supply procurement plan submitted to the Department of Energy.
Meralco said, however, that energy sales would likely rebound in 2021 and continue to grow until 2029.
“With the resumption and recovery of economic activity, from 2021 to 2029, total energy sales growth is expected to grow by about 3 percent per year,” Meralco said.
It said the sales growth after the disruption caused by COVID-19 was expected to be driven by moderate economic growth and widening customer base. “The long-term increase in consumption though may be tempered by customer responses to public policies on the promotion of renewable energy resources and energy efficiency measures,” the company said. Alena Mae S. Flores