Meralco has reported its core income for the first half of 2025 at PHP 25.5 billion, equal to around USD 445 million. This reflects a 10% rise from the same period last year. The company shared the data in a filing with the Philippine Stock Exchange.
More than half of this income, about 54%, came from its electricity distribution business. Power generation made up 37%, and the remaining 9% came from supplying electricity at retail and other business segments not related to power.
As of June 2025, Meralco spent PHP 47.5 billion (roughly USD 829 million) on capital projects. About 71% of this was directed to solar developments under companies such as MTerra Solar, Greenergy for Global, and Greentech Solar Energy. The rest of the spending was used for expanding the distribution system, upgrading old facilities, connecting new customers, handling higher electricity use, and relocating poles.
The company acknowledged that electricity sales grew more slowly than expected during the period. However, they forecast that the performance of power generation may help make up for the lower sales from the distribution side. Meralco also stated it expects its full-year core income for 2025 to be slightly higher than last year’s, possibly growing by a low double-digit percentage.
In addition to Meralco’s large solar plants, smaller renewable energy projects are operating in several areas across the Philippines. In Mindoro, a 200-kilowatt solar-diesel hybrid system is being used to power a health facility and nearby homes.
In Siargao, a pilot project is testing a battery-supported solar power unit that supplies energy to a small fishing community. There is also a 100-kilowatt run-of-river hydro system being trialed in a remote village in Bukidnon for local energy needs.
