MANILA Electric Co. (Meralco), the Philippines' largest private power distributor, reported stronger electricity sales growth in the third quarter as warmer weather and a steady stream of new customers offset softer consumption from existing users.

Third-quarter energy sales volume rose 3.4% from a year earlier, driven by higher temperatures and continued customer energization, according to the company.

"New customer connection growth offset soft underlying sales volume," Charina P. Padua, senior vice-president and head of customer relations and services at Meralco, said in a Viber message last week.

For the first nine months of the year, energy sales volume in the distribution utility business increased 0.8% to 41,054 gigawatt-hours (GWh), a measure of the amount of electricity delivered to customers.

By customer segment, residential sales rose 1.5% to 14,731 GWh, supported by continued customer energization. Commercial sales grew 1% to 15,393 GWh as retail and restaurant establishments expanded and boosted their operations. Industrial sales were flat at 10,819 GWh, with stronger demand from semiconductor companies largely offset by weaker demand from the steel and plastic sectors.

Meralco expects full-year energy sales volume to grow by 1% to 2%. Reaching that range would require fourth-quarter growth to outpace the 0.8% increase posted in the first nine months.

The distribution utility remained the company's biggest earnings in the first half of the year, accounting for P12.7 billion, or 48%, of core net income of P26.5 billion. Consolidated revenue increased 15.7% to P283.71 billion in the first half from P245.22 billion a year earlier.

At the company's annual stockholders' meeting in July, Chairman and Chief Executive Officer Manuel V. Pangilinan said he expects 2026 profit to exceed last year's level, citing higher energy sales volume in the distribution business as well as contributions from the power generation and retail electricity supply businesses.

Meralco serves more than 8.3 million customers across Metro Manila and nearby provinces, making its sales volumes a gauge of electricity demand across the capital region.

Beacon Electric Asset Holdings, Inc., Meralco's controlling shareholder, is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera