The Manila Electric Company (Meralco) announced strong financial and operational results for the first nine months of 2025, driven by steady distribution performance and growth in its power generation and retail electricity segments.
Consolidated reported net income for the period climbed 9% to P36.8 billion, up from P33.8 billion recorded in the same period in 2024. This growth was underpinned by operational efficiencies and improved performance across all core businesses.
Core Earnings Per Share (EPS) stood at P35.5, marking a substantial 14% increase from P31.1 in the previous year.
Consolidated revenues grew 5% to P371.8 billion. This increase was primarily driven by higher pass-through generation and transmission charges, strong power generation revenues from the reserve market, and increased sales volume from the retail electricity business.
System-wide sales volume reached 50,880 GWH, slightly higher than 50,641 GWH recorded in 2024, reflecting consistent economic activity across Meralco’s franchise area.
Retail electricity supply business delivered 5,524 GWH, an 8% increase year-over-year, supported by successful new customer acquisitions.
Meralco’s average retail rate increased by 11% to P11.63 per kWh, reflecting higher costs mainly associated with generation and transmission.
The company remains highly optimistic about achieving its full-year core profit guidance of P50 billion. This confidence stems from the sustained growth trajectory of its power generation business and the reliable performance of its core distribution operations.
To ensure future reliability and service quality for its growing customer base, Meralco is committed to advancing major investments in smart grid technology, network resiliency, system improvement, and cybersecurity measures.
Commenting on the results, Chairman Manuel Pangilinan stated: “We are confident in our ability to deliver on our commitments and continue to serve our customers and communities. The recent positive developments in the energy sector, including the passage of the Philippine National Nuclear Energy Safety Act, further strengthen our resolve to contribute to the country’s energy security and sustainability.”
