Power retailer Manila Electric Co. said Thursday it expects peak demand to grow by an average of 4.6 percent annually, driven by increased economic activity.
“As economic activity resumes, from 2022 to 2031, peak demand is expected to grow annually by an average of 4.6 percent per year,” Meralco said in its power supply procurement plan 2022 submitted to the Department of Energy.
Meralco said the long-term forecast of the movement of peak demand would depend on how much renewable energy systems are introduced into the system and on the effectiveness of new energy efficiency measures.
Peak demand will also depend on the changes in consumption behavior arising from the “new normal” brought about by the pandemic. “The magnitude of these will only be realized as the industry continues to develop,” Meralco said.