‘Strong demand for power to energize Meralco profits’

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‘Strong demand for power to energize Meralco profits’ - Business Mirror

Quick Summary:

The Manila Electric Co.(Meralco) is expecting full-year core income to reach P43 billion this year, higher than its earlier guidance of P40 billion, after the utility firm posted strong and improved numbers particularly in May, when it posted record sales.

Meralco reported that it spent P19.9 billion in capital expenditures (capex) in the first semester.

Beyond the core distribution business, we continue to invest in more generation capacity which will help address, if not eliminate, instances of supply insufficiency in the country’s power grid, and support the growing demand for power,” Pangilinan added.