<\/p>\n
MANILA ELECTRIC Co. (Meralco) reported a 2% increase in consolidated core net income (CCNI) to P11.4 billion for the primary quarter (Q1), supported by higher contributions from its power generation business.<\/p>\n
Earnings grew despite lower energy sales within the distribution segment, said Betty C. Siy-Yap, Meralco senior vice-president and chief finance officer, during a briefing on Monday.<\/p>\n
Consolidated revenues rose 5% to P120.8 billion from P114.5 billion, driven by higher revenues from power generation and increased contributions from its distribution utility, in accordance with the corporate.<\/span><\/p>\n Ms. Siy-Yap said overall sales volume grew 2% to fifteen,621 gigawatt-hours (GWh), with gains from the facility generation and retail electricity supply businesses offsetting the decline within the distribution utility segment.<\/p>\n Meralco PowerGen Corp., the corporate\u2019s power generation arm, accounted for 45% of CCNI or P5.1 billion, while the distribution utility contributed 46% or P5.3 billion.<\/span><\/p>\n \u201cThe two% growth in our CCNI was backed by our strategic initiatives and responsible financial management,\u201d Meralco Chairman Manuel V. Pangilinan said.<\/p>\n He said the corporate faced \u201cserious consequences\u201d on fuel supply chains and power prices following the Iran war on Feb. 28.<\/p>\n \u201cWe were fortunate to have certain of our solar facilities starting to provide indigenous and clean energy, in March 2026, at very reasonable prices, and our ability to source contractually committed and within your means coal helped dampen the spike in power prices,\u201d he said.<\/span><\/p>\n Amid the continued conflict, Mr. Pangilinan said the facility generation business is managing its portfolio and accelerating projects similar to MTerra Solar.<\/span><\/p>\n \u201cLooking forward, Meralco will proceed to actively explore emerging technologies similar to nuclear and expanding distributed energy resources,\u201d he said.<\/p>\n \u201cWe won’t stop in strengthening our capabilities and future-ready infrastructure to higher serve our customers, empower our employees, support the communities we serve,\u201d he added.<\/span><\/p>\n Meralco is the country\u2019s largest private electric distribution utility, serving greater than 8.1 million customers in Metro Manila and nearby provinces, including Bulacan, Cavite, Rizal, and parts of Laguna, Batangas, Pampanga, and Quezon.<\/span><\/p>\n Its controlling shareholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.<\/p>\n Hastings Holdings, Inc., a unit of PLDT Helpful Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld<\/i> through the Philippine Star Group, which it controls. \u2014 Sheldeen Joy Talavera<\/b><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" PHILIPPINE STAR\/BOY SANTOS MANILA ELECTRIC Co. (Meralco) reported a 2% increase in consolidated core net income (CCNI) to P11.4 billion for the primary quarter (Q1), supported by higher contributions from its power generation business. Earnings grew despite lower energy sales within the distribution segment, said Betty C. Siy-Yap, Meralco senior vice-president and chief finance officer, […]<\/p>\n","protected":false},"author":1,"featured_media":329587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[4106,6012,6821,1589,51370,5125],"class_list":["post-329586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-billion","tag-core","tag-income","tag-meralco","tag-p11-4","tag-rises"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/329586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=329586"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/329586\/revisions"}],"predecessor-version":[{"id":329589,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/329586\/revisions\/329589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/329587"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=329586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=329586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=329586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}