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Meralco says 2013 net income almost flat

Meralco, Manila Bulletin

Meralco says its 2013 net income is almost flat.

The Manila Electric Co. (Meralco), the country’s biggest power utility, reported that its net income for full year ending Dec. 31, 2013 is almost flat at P17.21 billion compared to P17.12 previously.

Its core net income was P17.02 billion vs P16.27 billion, while revenues are at P298.64 billion from P285.27 billion.

Meralco is controlled by Hong Kong-listed conglomerate First Pacific Group via unlisted Beacon Electric Asset Holdings Inc. It is also partly owned by Philippine conglomerate, JG Summit Holdings Inc.

  • ED Sal Del

    Is Meralco trying to tell the public/consumers to commiserate with them because its NET income was only P17.21 billion ? Meralco must be “smoking unpurified octane gases” if they lament and feel sorry for their gargantuan profit.

    Is this their unspoken PR (public relations ) ploy to hoodwink customers for a rate increase? If it is–then shame on Meralco’s owners and management.

  • bugoyparin

    even the system loss was vatable… eh wala namang service na narender ang loss na yan e…

  • bente lang

    Tignan nyo po ang NET INCOME nila 17.21 billion pesos tapos nagrereklamo pa sila na hindi maipasa sa consumers ung mataas na nabili nilang electricity sa spot market (which is i think manipulated pa ata)…symtem loss pinapasa pa nila sa consumer..di ko alam kung meron law(s) na pwede nila ipasa ang mga ganitong cost. Ang alam ko, pag you are into a business, pag mga ganitong loss is part of the risk in enganging into a business (which i think again na basic sa business). So, dapat di nila ipinapasa sa consumers…

    If ever na may LAW(S) nga na nagpapahintulot ng ganitong sistema…i’m calling the attention of all lawmakers to revisit this..Thank you

  • vendetta07

    Poor babies. A monopoly that provides a needed public service has a right to enrich its owners.