With industrial sales picking up starting the first month of this year, all indications point to a scenario that gives utility giant Manila Electric Company (Meralco) the leverage to bounce back to pre-crisis levels on its energy sales.

“Based on indications from our January (2010) sales, we have recovered to 2008 levels for all customer segments,” Meralco president Jose P. de Jesus told reporters in a press briefing. To go back to 2008 level would entail viable growth prospects in the firm’s energy sales.

Significant rebound, according to Meralco first vice president and utility economics head Ivanna G. dela Peña, was registered in January sales for its industrial segment. She qualified though that it could also be attributable to the fact that they are coming from a deep plunge in energy sales in the same month last year.

Given recent sales figures, dela Pena indicated that their forecasts will likely be revised upwards from flat growth they have anticipated for 2009. Preliminary sales target for year 2010 had been set at 3.0-percent growth.

With the critical condition of the grid and the shifting drivers in power generation in the equation, dela Pena noted that “higher prices will have to be factored in.”

De Jesus further emphasized that “sales to industrial customers January-to-January really went up. There was a sizeable jump.”

It must be noted that Meralco’s industrial sales last year dipped by negative 19-percent. But with the economy now on the rebound, the utility firm emphasized that increase in demand will become a key factor in planning.

“Industrial customers lead over commercial and residential customers year-on-year,” the company chief executive stressed.

It must be noted that commercial customers have been the traditional growth driver in Meralco’s sales; while residential demand also gathered pace last year.

Income-wise, Meralco indicated that it was comparably better than 2008 figures, and something that will also put a smile on the face of its shareholders.

Nevertheless, Meralco treasurer Rafael L. Andrada refused to drop any hint on the company’s income figures, except to give re-assuring words that it has been more favorable than the previous year.