MANILA Electric Co. (Meralco) posted a 3.8% increase in its consolidated core net income (CCNI) for the first half, driven by stronger contributions from its power generation and retail electricity supply businesses, according to a report by BusinessWorld.
The utility giant’s generation arm and retail supply unit delivered improved earnings, offsetting challenges in its distribution business. The company did not provide absolute figures, but the growth reflects Meralco’s expanding footprint in the power generation and retail electricity markets.
Meralco continues to invest in new power plants and retail supply contracts to meet growing demand in its franchise area, which covers Metro Manila and nearby provinces. The company expects sustained growth in the second half, supported by its diversified energy portfolio.