Meralco power sales dampened by cool weather

ELECTRICITY sales in June eased because of cooler weather, tempering power sales growth for the first half to around 6.5%, Manila Electric Co. (Meralco) said.

“For the first five months year-to-date, (we had) growth of 7.5% per annum, but June is trending a little softer because, number one, the rains have started. It’s been cool during the last three months — April, May and June,” Oscar S. Reyes, Meralco president and chief executive officer, told reporters.

“So I think we will probably end June at roughly around 6%, 6.5%,” he added in a chance interview after the annual shareholder meeting of another company on Wednesday where he sits on the board.

He added that sales in the first half should be better year on year, without elaborating.

Read more here.

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