Meralco’s consolidated reported net income also climbed 36 percent to P17.9 billion in the first six months from P13.1 billion in the same period last year.
He said the first-half results provided the basis for assuming that the full-year results would be another record high and “may be north of P30 billion.” Consolidated distribution utility energy sales volumes in the first half rose 3 percent to 24,792 gigawatt-hours from 23,968 GWh, as volumes of Meralco and Clark Electric Distribution Corp. increased 3 percent and 7 percent, respectively.
“Our record-high sales volumes reflect strong rebound in terms of power demand. As we expect this growth trajectory to continue, we will aggressively invest in distribution network upgrades and expansion, and implement more programs that will improve overall customer experience,” Meralco executive vice president and chief operating officer Ronnie Aperocho said.
Meralco said the higher temperature and humidity during the dry season drove the increase in demand for electricity from the residential segment, while the continuing recovery and growth in the economy bolstered commercial segment sales.