Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

Meralco net income up by 13 percent year-on-year

Posted on October 26, 2015

By Juzel L. Danganan

MANILA, Oct 26 (PNA) — The Manila Electric Company’s (Meralco’s) net income grew by 13 percent year-on-year as of end of the third quarter of 2015.

Meralco senior vice president and chief finance officer Betty Siy-Yap said in its third quarter results briefing Monday that the net income of the distribution utility had hike from Php 14.3 billion to Php 16.15 billion for the entire three quarters of the year.

Manny Pangilinan, chairman of Meralco, also said the second quarter had seen growth that continued in October.

For the past three quarters, on the other hand, the company saw a four percent fall for its consolidated electricity revenues to Php 191.5 billion.

Yap also stressed the revenues was brought by the lower distribution charge, lower pass-on charges due to the lower generation charge, lower oil prices and competitively negotiated power supply agreement (PSA) prices.

Energy sales had a growth of 4.7 percent or 1,243 Gigawatthours (GWh) from 26,253 to 27,496 GWh.

Relatively, the sales growth of Meralco was driven by residential growth at 5.7 percent, commercial customers at 5.6 percent and 2.8 percent from industrial customers.

For the distribution utility’s expenses, there was a 3-percent decrease year-on-year to Php 175.3 billion.

The consolidated core EBITDA of Meralco also had a growth of 2 percent from 2014 to Php 27.1 billion.

The distribution utility also noted a 3.8 percent increase (209,401 customers) to 5.7 million customers.

Meralco explained the residential customers still dominated the count by 91.5 percent, commercial at 8.2 percent and industrial at 0.2 percent.

Overall, the power firm’s customers also saw a fall in the distribution charge to an average of Php 1.38 per kilowatthour (kWh) to Php 1.52 per kWh since July 1, 2015. (PNA)

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme