Joselito Malig

Article (news)

Meralco

Andrea Taguines

ABS-CBN News

MANILA — Manila Electric Co. (Meralco) is on track to end the year with a consolidated core net income of P50 billion, which is higher than last year’s P45.1 billion, according to Chairman and CEO Manny Pangilinan.That’s after the power giant posted a 10 percent jump in its first half earnings to reach P25.5 billion, up from P23.2 billion in the same period last year.The distribution utility business accounted for the largest share of 54 percent or P13.7 billion while a significant contribution was realized from the growing Power Generation business with its share now at 37 percent, up from 27 percent in 2024, and is equivalent to P9.4 billion of the consolidated core net income.The retail electricity supply and non-electricity businesses meanwhile brought in a combined P2.4 billion.“Meralco delivered strong results in the first half of the year, fueled by the solid performance of our core distribution business and accelerating momentum of the generation business. As we move into the second half, we remain focused on achieving key milestones that will enable us to meet our full-year profit target and business goals,” said Pangilinan.“In this regard, we are guiding our 2025 full year CCNI to grow by low double digits over 2024 CCNI,” he added.Asked about what will further drive profitability in the second half of 2025 and in the coming years, Pangilinan said he is banking on the power generation business.“The biggest driver of CCNI for the full year will be the generation business. Now there will be more generation capacities that could come upstream starting 2026, principally Terra Solar. But generation is building, expanding SP Tarlac, our solar farm in Tarlac. Then we have the Atimonan, but that won’t be available until 2030 Calatagan and Ilihan is also expanding by 435 megawatts. So the generation business is likely to show increasing profitability in the coming years,” he said.

Manila Electric Co. (Meralco) is on track to end the year with a consolidated core net income of P50 billion, which is higher than last year’s P45.1 billion, according to chairman and CEO Manny Pangilinan.

Manila Electric Co. (Meralco) is on track to end the year with a consolidated core net income of P50 billion, which is higher than last year’s P45.1 billion, according to chairman and CEO Manny Pangilinan.

Meralco profit rises to P25.5-B in first half of 2025; may hit P50-B by year-end

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Meralco profit rises to P25.5-B in first half of 2025; may hit P50-B by year-end

Andrea Taguines,

ABS-CBN News

Published Jul 29, 2025 12:16 AM PHT

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