Manila Electric Company managed to grow its sales volume by three percent in the first four months of the year, showing signs of recovery despite the continuing pandemic.
Meralco president and CEO Ray Espinosa said during the company’s virtual stockholders’ meeting, “The first few months of the year show evidence of recovery and healthy growth.”
Espinosa added, “We continue to energize more customers as shown by year-to-date customer count growth rate of four percent.”
Meralco’s customer count reached 7.23 million at the end of April.
For the whole of 2020, Meralco’s energy sales slipped by seven percent.
The decline in sales volume was driven largely by the impact of strict community quarantine to the commercial and industrial segments.
For this year, Meralco will invest in projects that will heighten revenue enhancement and expansion, as well as raise sustainability programs across its business units.