Meralco Q1 energy sales soften
Manila Electric Co. (Meralco) saw its energy sales fall by 1.8 percent in the first three months of 2026, with cooler weather and economic pressures curbing consumption.
Charina Padua, senior vice president and head of Meralco Customer Relations & Services, said the group’s consolidated sales had dipped to 12,273 gigawatt hours (GWh) from a year ago’s 12,493 GWh following weaker consumption across customer segments in the first three months.
Energy sales are seen as one of the leading indicators of economic performance.
“Lower temperatures reduced organic demand, partially offsetting the contribution of new connections,” she told reporters.
Lower temperatures during the January to March period cut household consumption, particularly the usage of heating, ventilation and air conditioning.
Demand from the industrial sector likewise went down due to “operational constraints and macro headwinds,” affecting steel and plastics production and limiting output from embedded generators.
Ferdinand Geluz, Meralco senior vice president and chief revenue officer, earlier said weaker energy sales results were expected as La Niña conditions lingered.
The La Niña phenomenon can result in above-normal rainfall or an increase in tropical cyclones, which can lead to lower electricity consumption.
But Geluz remained optimistic that the power distributor could regain stronger figures by the second quarter as La Niña fades. The projected recovery of the real estate industry after the exit of Philippine offshore gaming operators was also expected to perk up energy consumption.
Despite a sales decline in the first quarter, the official said Meralco still sees a 3-percent growth for full-year 2026.
Meralco is the country’s biggest power distributor, delivering electricity to over 8.2 million consumers in Metro Manila and nearby provinces.
In a briefing earlier this week, Arnel Casanova, senior vice president and chief for external and government affairs of Meralco, urged power cooperatives in Batangas and General Santos City to conduct public bidding to secure partnerships aimed at addressing years-long electricity issues in their areas.
