The Manila Electric Co. expects to surpass last year’s net income due to the improved performance of its power generation business here and abroad, among others.
Core profit, meanwhile, stood at P19.2 billion. The figures are 47-percent higher than P13.1 billion realized in the same period last year, driven mainly by the 186-percent increase in the contribution of the power generation business. Energy sales volumes in the first half rose by 3 percent to 24,792 gigawatt hours from 23,968 GWh. Monthly sales volume breached the 4,000-GWh level since April and reached a high of 4,643 GWh in June.
Sales mix also continued to shift towards prepandemic levels, with the commercial segment accounting for a bigger 37 percent share. The share of residential was the same at 35 percent, while industrial share slipped to 28 percent from 30 percent.
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