Latest Stories

Meralco sees 7% sales growth


MANILA, Philippines—Manila Electric Co. (Meralco), the country’s biggest power distributor, expects its electricity sales to grow by 7 percent this year, faster than the 1 percent posted a year ago.

For 2013, however, Meralco has set a more conservative sales growth target of 4 to 5 percent, which approximates the average yearly growth of the utility, according to Meralco president Oscar S. Reyes.

Reyes said the expected growth in 2012 was largely boosted by the “healthy pickup of [electricity] demand by industrial consumers,” particularly the semiconductor sector, construction related industries like steel and plastic, and the food and beverage industry.

“There’s a clear indication that industrial growth is healthier now than it was last year,” Reyes explained.

“Commercial demand has also been quite healthy and that’s a result of, I think, the continuous building of new malls and entertainment centers,” he added.

The electricity demand of Meralco’s residential customers, according to Reyes, posted a “decent” growth, due to the healthy inflows of remittances from overseas Filipino workers and increase in private consumer spending.

With the projected growth in sales, Meralco expects its 2012 net income to hit P16 billion.

For 2013, Reyes noted that the 4 to 5 percent growth target was based on the fact that the “fundamentals are there for the continued robust growth of the economy because there’s over P21 billion in OFW remittances, over P13 billion in BPO remittances, and we have private direct investments, on top of portfolio money flows.”

“[Those inflows] drive both private consumption spending and capital investment,” he said.

The elections next year are likewise expected to help perk up electricity demand, he added.

Reyes, however, noted that more than just the growth targets, the main concern right now should be the ability of the country to meet the rising demand for electricity.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: electricity , electricity distribution , forecasts , Manila Electric Co. (Meralco) , Philippines , sales , sales growth

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Nebraska toddler gets stuck inside claw machine
  • Philippine eagle rescued by Army turned over to DENR
  • Gunmen attack Iraq military base, kill 10 soldiers
  • South Korea president shouted down by distraught parents
  • Classmates celebrating 60th birthday among missing in ferry sinking
  • Sports

  • Wawrinka waltzes through with Monte Carlo walkover
  • Power Pinays smash India in Asian Women’s Club volleyball opener
  • PH youth boxers off to stumbling start in AIBA World tilt
  • Durant has 42, Thunder beat Pistons 112-111
  • Walker leads Bobcats over Bulls in OT, 91-86
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Jones, Godard, Cronenberg in competition at Cannes
  • Will Arnett files for divorce from Amy Poehler
  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Business

  • Total says makes ‘very promising’ oil find off Ivory Coast
  • ‘Chinese Twitter’ firm Weibo to go public in US
  • World stocks subdued, Nikkei flat on profit taking
  • Asia stocks fail to match Wall Street gains
  • Fired Yahoo exec gets $58M for 15 months of work
  • Technology

  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • DFA: 2 Filipinos survive Korean ferry disaster
  • PH asks airline passengers to check for MERS
  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • First Fil-Am elected to Sierra Madre, Calif. city council
  • Marketplace