Manila Bulletin
By Myrna M. Velasco
January 21, 2013, 6:09pm
Power utility giant Manila Electric Company (Meralco) is expecting sales to be continually robust by the first half of this year, with consumption to be driven mainly by activities related to the mid-term elections.
When asked on the company’s sales growth forecast, Meralco Chairman Manuel V. Pangilinan indicated that “at least for the first half, we are quite confident that it will be good because of the election.”
The utility firm cannot ascertain though if they would be able to top the 10-percent sales expansion logged in the first half of 2012.
Company officials have earlier hinted that on a full-year scale, the overall growth may slow down compared to last year’s performance.
Pangilinan said they are evaluating sales growth target because this will underpin their revenue expansion forecasts.
“The great deal of it is, it’s still dependent on how economic growth would be anticipated for 2013,” he explained.
On projected core income of P16 billion for 2012, it is seen that the utility firm can easily achieve it given that profit level as of last year’s third quarter already hovered at P15.9 billion.
“Internally, we have our budgeted numbers already, but we cannot disclose the number until 2012 is on screen,” he told reporters.
The only hint he dropped has been that this year’s core income guidance will likely be higher than last year.
“It’s the expectation (higher income). On the whole, I think 2013 would be good,” Pangilinan said.
Beyond its core business segment on power distribution, Meralco will be confronted with industry milestones this year, including the kick-off of commercial transactions for open access starting June.
The company’s power generation unit, Meralco PowerGen, is also expected to move forward on the implementation of their first foray into power generation via the 600-megawatt Subic coal plant. source
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