Manila Electric Co 2024 AR2
The report outlines Manila Electric Company's (Meralco) financial, operational, and ESG performance for the fiscal year 2024. The company achieved a record-high consolidated core net income of PHP 45.1 billion, driven by a 6.4% growth in energy sales and surpassing 8 million customer accounts. Meralco also made significant progress in its energy transition by breaking ground on the MTerra Solar project, which is set to become the world's largest integrated solar and battery storage facility. Additionally, the company maintained its system loss rate below the regulatory cap for the 17th consecutive year, resulting in PHP 5.1 billion in customer savings.
Company: Manila Electric Co
Sector: Utilities
Country: Philippines
Year: 2024
Type: AR2
Pages: 623
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Manila Electric Co
Annual Report
The report outlines Manila Electric Company's (Meralco) financial, operational, and ESG performance for the fiscal year 2024. The company achieved a record-high consolidated core net income of PHP 45.1 billion, driven by a 6.4% growth in energy sales and surpassing 8 million customer accounts. Meralco also made significant progress in its energy transition by breaking ground on the MTerra Solar project, which is set to become the world's largest integrated solar and battery storage facility. Additionally, the company maintained its system loss rate below the regulatory cap for the 17th consecutive year, resulting in PHP 5.1 billion in customer savings.
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Document Details
Report Year
2024
Reporting Period
Jan 1, 2024 - Dec 31, 2024
Fiscal Year
2024
Published
Apr 15, 2025
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Scope 2:
Scope 3:
Energy Consumption
Water Consumption
Total Waste
Women on Board
Women in Management
Workplace Fatalities
Employees