Meralco (Manila Electric Company)
has a consolidated income a total to Php. 9.9 Billion, the current computation
shows that it rose 8 percent compared to last year’s report which has a total
of Php. 9.2 billion.
During the six month the firm net
income was Php. 9.6 billion, 2 percent expansion compared to the previous year,
despite of the 7 percent revenue drop from Php. 141.7 billion down to Php.
132.2 billion years ago. The firm indicated that it’s “sales in energy has increased by
3 percent”.
President Oscar Reyes said that
their IPSAs (Interim power supply agreements tapered its exposure in WESM
(Wholesale Electric Spot Market) that was 4 percent less compared to the
current rate.
Meralco noted that they still
need to improve its response system, specifically during power supply
restoration emerge during typhoons and other unexpected calamities. The recent
Typhoon Glenda strike damage some Meralco Facilities with a total of Php. 310
million, but this were recovered with the ERC insurance.
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