Power demand likely to top earlier forecast, says Meralco

Power sales in 2024 are expected to surpass earlier forecast amid higher temperatures that are fueling demand, an executive said over the weekend.

“We also see a good second quarter. In fact for April, we’re seeing around at least 8 percent growth, and maybe until June, we will grow between 6 8 percent. That gives us good first-half numbers,” Geluz said. The company said the strong quarterly sales volume growth was bolstered by a confluence of sales catalysts that included higher temperatures which rose by an average 0.50°C amid the El Niño phenomenon, an additional day in February due to the leap year and increased momentum of its recovering industrial segment.

Residential sales also surged 12 percent reaching 4,144 GWh by the end of March from 3,701 GWh a year ago, pushed by the prolonged use of cooling appliances at home.

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