Meralco energy sales back to prepandemic level

Manila Electric Co. (Meralco) grew its net income last year by 21 percent to P28.4 billion as energy sales exceeded prepandemic levels with the economic reopening.

“The minimal restrictions in commercial and social activities during and after the national and local elections in mid-2022, the eventual lifting of mandatory use of face masks and presentation of vaccination cards in various establishments, and the resumption of face-to-face schooling and onsite work arrangements all contributed to the reinvigoration of the economy, and, subsequently, higher demand for power,” Meralco noted.

Energy sales volume improved by 6 percent to 48,916 gigawatt hours “as businesses and public confidence recovered from the pandemic.”

Consolidated revenue rose by 34 percent to P426.5 billion. INQ