and ESG Highlights
Highlights
Highlights
Highlights
Environmental,
Social, and
Governance
We envision a brighter tomorrow for everyone. We are dedicated to always getting better, so we can serve our customers— the people, businesses, communities, and the country— more effectively.
Together, as a Group, we are broadening our focus from energy to include mobility, technology, and connectivity. We are on the lookout for solutions that promote sustainable growth and development for future generations.
To be a world-class energy solutions provider, powering our nation and empowering our people today and for generations to come
To provide our customers the best value energy solutions reliably, affordably, superbly, and sustainably
"Tagapaghatid ng liwanag" (bearers of light)
Powering your life is our solemn duty
Meralco group’s progress continues. We seized 2023’s opportunities to improve operations to serve more customers. We acknowledge our shareholders, JG Summit Holdings, Metro Pacific Investment Corporation Group, and other institutional and individual investors who continue to provide us with their unwavering support in all our business decisions and initiatives.
↑Meralco continues to adapt to the changing needs of the time. Beyond energy distribution, we constantly explore technologies and enhance the operations of our subsidiaries, affiliates, and other business units to deliver better service and support economic and societal progress.
CCNI was at a record high, with a 37% increase from the previous year.
The Distribution Utility's CCNI contribution was higher by 15% versus 2022.
Notably, total Power Generation, Retail Electricity Supplier (RES), and non-power subsidiaries' collective contribution to the Group's CCNI also increased to 36% from the previous year's 24%.
To fellow stakeholders,
In 2023, Meralco finally recovered its health from the ravages of the COVID-19 pandemic. Over a three-year period, regulations evolved, weather and climate patterns shifted, and market patterns changed. Despite these challenges, our Company achieved record-breaking sales of 51,044 GWh—a 4.4% increase from 2022. This growth was seen in both the Commercial and Residential segments—and all indications suggest that we will continue to break records this 2024, given a lower unemployment rate of 4.3% in 2023, combined with a 5.6% growth in household consumption. In addition, with committed projects set to raise installed power capacity by 12,427.65 MW over the next five years, the outlook for the power sector looks encouraging.
With experts foreseeing a gradual economic resurgence in the coming years, driven by improving global conditions and infrastructure investments, Meralco is optimistic that it can build on its twelve decades of service, and provide shareholders consistent and satisfying growth.
Manuel V. Pangilinan
Chairman and Chief Executive Officer
