Monday, September 21, 2020

Meralco Nets P18.5-B In Jan-Sept

Meralco Nets P18.5-B In Jan-Sept


7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.

Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

The Manila Electric Company (Meralco) grew its core net income by 11 percent to PHP18.5 billion in the first nine months of the year, as benign inflation and favorable interest rate environment boosted growth in sales volume.

Consolidated electricity sales volume grew to 35,005 gigawatt hours (GWh) at end-September, up 6.3 percent from the same period last year.

“Growth was driven by residential (energy sales volume) which grew at 8 percent, followed by commercial at 6 percent and growth by industrial at 5.1 percent,” Meralco President and Chief Executive Officer Ray Espinosa said in a press briefing Monday.

Meralco reported its electricity revenues rose by 6 percent to PHP235.4 billion due mainly to higher generation charges from the combined effects of higher prices in the Wholesale Electricity Spot Market (WESM) and increased consumption across all customer sectors as inflation tapered in September.

Its consolidated distribution revenues also grew by 7 percent to PHP49.2 billion in the first nine months, while non-electricity revenues declined by 6 percent to PHP5.8 billion.

Meralco Chairman Manuel Pangilinan said, “we anticipate sustained growth for Meralco resulting from the country’s continued overall economic expansion as well as growth that will follow the government’s ongoing infrastructure development programs.”

Pangilinan said they expect to end 2019 with consolidated core net income of over PHP23 billion. (PNA)

Latest News

Puregold Mobile App Makes Loading Globe Prepaid And TM Easier

The Puregold app makes grocery shopping even more convenient with its upate!

High-Speed Wi-Fi Available Across Cebu City, Davao City

Here's how fast these "high-speed" Wi-Fi connections are:

DOH Reports 3,257 New COVID-19 Cases, Recoveries At 208,790

COVID-19 cases in the country near 280,000 mark!

DepEd Strengthens Preparations For Distance Learning With Dry-Run Simulations

DepEd strengthens its preparations for the upcoming school year with dry-run simulations and NEAP transformation.

GMA News TV Brings Back Full Line-Up Of Newscasts Beginning September 21

The well-loved GMA News TV line-up is back in full force!

Sen. Hontiveros Urges DOH: Address Unpaid Pay, Benefits Of Health Frontliners Now

"Ibigay natin ang sweldo at proteksyon na nararapat para sa ating mga health worker bilang pagkilala sa kanilang kabayanihan at sakripisyo."

What Is The Difference Between Anxiety And Depression?

Anxiety and depression, both mental illnesses just as harmful as physical illnesses. Have you ever experienced these symptoms?

Harnessing The Power Of Tech Amid The Age Of Distance Learning

Here's how vital an IT infrastructure is in the distance learning era:

Only Tourists From MGCQ Areas Allowed In Tagaytay

Sadly, only residents coming from areas under the modified enhanced community quarantine are allowed to enter Tagaytay so far.

7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.