Meralco sees around 6.5% sales growth in first half

Electricity sales in June has eased because of the cool weather, tempering power sales growth for the first half to around 6.5%, the top official of Manila Electric Co. (Meralco) said.
“For the first five months year-to-date, growth of 7.5% per annum, but June is trending a little softer because, number one, the rains have started. It’s been cool during the last three months — April, May and June,” Oscar S. Reyes, Meralco president and chief executive officer, told reporters.
“So I think we will probably end June by roughly at around 6%, 6.5%,” he added in a chance interview after the annual stockholders meeting of another company on Wednesday where he sits as board director.
But he said, sales in the first half should be better than last year, without citing the comparative growth rate or the sales figure in gigawatt-hours.
Based on Meralco’s previously released figures, consolidated sales volume in the first half of 2017 grew by 3% year-on-year to 20,338 GWh despite the high base in the previous year.
Mr. Reyes said the sales improvement was “because I think to the country’s credit, industrial and commercial activities have been strong. Maybe, it’s the growth of the economy.” — Victor V. Saulon