MANILA Electric Co. (Meralco) saw its unaudited core net income — which excludes one-time gains and charges — climb by 7 percent to P10.9 billion in the first half from a year earlier as higher energy sales and generation charges boosted revenues for the period.
Consolidated January to June revenues totalled P150.5 billion, also 7 percent higher from last year and attributed to a 7-percent rise in electricity sales and a generation charge boosted by fuel price increases, a weaker peso and higher prices at the Wholesale Electricity Spot Market (WESM).
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