| By Donnabelle L. Gatdula (The Philippine Star) Updated February 14, 2011 12:00 AM |
MANILA, Philippines - The Manila Electric Co. (Meralco) expects its sales to grow by 3.5 percent this year, a ranking company official said.
“If we revert back to the pattern of previous years, we’ll be looking at growth in electricity sales within the range of about more than three percent. We’re looking at an average in the next few years in the order of about 3.5 to 3.6 percent. That’s why we’ve rated our investments at about P45 billion in the next five years,” Oscar Reyes, Meralco chief operating officer, said.
Last year, the company posted a growth of 10 percent, the highest growth rate in the last 13 years.
“2010 was the same way that govern it was an exceptional year, 2010 is quite a very good year for the entire power industry, generators, transmission company and distributors. Mainly because particularly for us, electricity sales in kilowatt-hours was close to 10 percent, 9.9 percent,” he said.
But Reyes said it would be likely that the company will go back to three percent sales growth level this year.
For 2010, Meralco is targeting a P12-billion net income, almost double the P6.356 billion posted in 2009.
The growth would be driven by the 10-percent average growth in kilowatthour electricity sales during the period.
Meralco has over 4.8 million customers in its franchise area.
The company is now controlled by PLDT, San Miguel Corp., First Philippine Holdings Corp. and other minority shareholders.
“If we revert back to the pattern of previous years, we’ll be looking at growth in electricity sales within the range of about more than three percent. We’re looking at an average in the next few years in the order of about 3.5 to 3.6 percent. That’s why we’ve rated our investments at about P45 billion in the next five years,” Oscar Reyes, Meralco chief operating officer, said.
Last year, the company posted a growth of 10 percent, the highest growth rate in the last 13 years.
“2010 was the same way that govern it was an exceptional year, 2010 is quite a very good year for the entire power industry, generators, transmission company and distributors. Mainly because particularly for us, electricity sales in kilowatt-hours was close to 10 percent, 9.9 percent,” he said.
But Reyes said it would be likely that the company will go back to three percent sales growth level this year.
For 2010, Meralco is targeting a P12-billion net income, almost double the P6.356 billion posted in 2009.
The growth would be driven by the 10-percent average growth in kilowatthour electricity sales during the period.
Meralco has over 4.8 million customers in its franchise area.
The company is now controlled by PLDT, San Miguel Corp., First Philippine Holdings Corp. and other minority shareholders.
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