MANILA ELECTRIC CO. (Meralco) reported a 1.8% decline in energy sales volume in the primary quarter as cooler weather dampened demand.
“Lower temperatures reduced organic demand, partially offsetting the contribution of latest connections,” Charina P. Padua, senior vice-president and head of customer relations and services at Meralco, said in a Viber message on Wednesday.
Energy sales volume for the January-to-March period fell to 12,273 gigawatt-hours (GWh) from 12,493 GWh a 12 months earlier, she said.
Residential and business sales declined as colder weather curbed consumption and reduced using ventilation and air-conditioning systems, she said.
Industrial sales also slipped, weighed by operational constraints and macroeconomic headwinds affecting steel and plastics, together with limited output from embedded generators.
Meralco expects a 3% increase in energy sales volume this 12 months, supported by demand normalization as temperatures stabilize following the high base from the El Niño period in 2024.
The projected growth would reverse the 0.7% decline recorded in 2025, when softer demand, increased rooftop solar adoption and slower economic growth weighed on sales.
Despite flat sales volume, the distribution business remained the most important contributor to the ability distributor’s earnings last 12 months, with income reaching P29.55 billion.
Core net income rose 12% to P50.57 billion, driven by growth in power generation and regular performance of the distribution business.
Meralco is the country’s biggest private electric distribution utility, serving greater than 8.2 million customers in Metro Manila and nearby provinces.
Beacon Electric Asset Holdings, Inc., the corporate’s controlling stakeholder, is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Useful Trust Fund subsidiary MediaQuest Holdings, Inc., holds an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera