April 16, 2018 | 9:42 pm
MANILA Electric Co. (Meralco)
estimates that electricity sales increased by around 7% in the first quarter as
its consumer segments recorded growth during the period, the head of the
distribution utility said.
“In terms of sales, [growth was]
maybe . . . around 7% higher [year on year],” Oscar S. Reyes, Meralco president
and chief executive officer, told reporters in a chance interview on the
sidelines of Manila Water Co., Inc.’s annual shareholder meeting in Makati City
on Monday.
Mr. Reyes, who was elected Manila
Water independent director, did not disclose the sales figure, but Meralco in
the first quarter of 2017 reported sales volume from its core distribution
business at 9,317 gigawatt-hours.
Electricity
revenue, which accounted for 97% of total revenue a year earlier, grew by 12%
mainly because of the growth in volume of energy sold, Meralco previously said.
Asked about the sales growth drivers
in the first three months of 2018, Mr. Reyes said: “Number one is increase in
our customer base.”
“Second is, improvement in general
economic conditions, which have supported growth in consumption,” he said.
In the first quarter of 2017,
Meralco reported 4% growth in its customer count to more than 6.1 million.
“Third, you’ve got growth across all
sectors — residential, commercial and industrial,” Mr. Reyes said. “So good
indications of the growth of the economy.”
He said there was no pattern as to
which quarter Meralco records the biggest sales growth, adding that the weather
is a big factor in the sales outcome in a given period.
“Weather affects (sales). Number
two, some special events affect it,” he said.
Mr. Reyes also gave his comment on a
letter from Energy Secretary Alfonso G. Cusi asking why the distribution
utility has not yet energized Isla Verde in Batangas province, which is in its
franchise area.
“We have a program to electrify.
However, I think there were some delays in the LGU (local government unit)
level, but there is a program for that already. It’s just awaiting something
from the local community and the LGU,” he said, adding that he was unsure
whether it had to do with permits.
“We will be responding [to the
letter],” he said. “There’s no problem there. We’re committed that it will be
addressed very soon.”
“We’ll follow up on the
requirements,” he said. “That will be fixed.”
Meralco’s controlling stakeholder,
Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.
Hastings Holdings, Inc., a unit of
PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest
in BusinessWorld through the Philippine Star Group, which it controls. —
Victor V. Saulon
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