by Myrna Velasco September
18, 2016
Even with shifting
weather patterns, power utility giant Manila Electric Company (Meralco) has
indicated that it is keeping unchanged its energy sales growth forecast at 6.0
percent for this year.
In an interview with
reporters, Meralco President Oscar S. Reyes stressed that “for now, we’re
holding” when asked if the utility firm will go ahead with earlier plans to
re-adjust its energy sales projections.
He noted that they
still see an “expanding customer base and then the commercial sector seems to
continue to be busy.”
Reyes expounded that
both “horizontal and vertical developments” have been expanding – primarily
that of the real estate business. Fundamentally, that had been one of the
factors anticipated to further fuel energy demand.
The Meralco executive
emphasized though that sales on the remaining duration of the year may not be
as robust as the initial six months, especially with the weather already
cooling down.
“It will not be as
strong as the first half especially during the summer months because the effect
of the temperature will no longer be there,” Reyes said.
Notably, sales growth
in some months this year escalated to double-digit levels, hitting the record
level of 12.10 percent. For the entire first half, the average was logged at
11.0 percent.
The residential sector
had been the “star performer” from January to June with registered growth of 17
percent; while the commercial sector similarly flourished with sales growth of
11.0 percent.
Meralco pointed out
“record lows in inflation and in retail power rates provided a significant
relief to household income, thereby, increasing domestic consumption.”
Cited as main driver
had been the real estate sector, in addition to brisk activities in retail
trade as well as in hotels and restaurants.
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