MANILA, Philippines — Demand for power sagged in service areas of the Manila Electric Co. (Meralco) in March and April after the Luzon-wide community quarantine shuttered businesses and keep people inside their homes. Related Stories Meralco net income down 52% in Q1As a result of lower power demand, average daily net system input, which gauges the total amount of electricity entering the grid, dropped 26% during the quarantine days beginning March 17 versus pre-lockdown average. Meralco is the country’s largest power distributor, with nationwide customers reaching 6.9 million in the first quarter, up 4% on annual basis. As demand for power dwindled with most establishments closed in Luzon, Meralco said it invoked force majeure clauses on its contracts with power producers to save some costs from its contracted power. In the first quarter, Meralco shelled out P4.2 billion in capital expenditures, down 4% year-on-year as its crews get entangled in long power restoration activities after the Taal Volcano eruption in January resulted into power interruptions.

Source: Philippine Star April 28, 2020 08:48 UTC