Meanwhile, average distribution charge accounted for 14 percent of the retail rate. The power utility provider's approved tariff is at P1.3522 per kilowatt hour. Consolidated distribution utility energy sales volume grew by four percent to 51,044 gigawatt-hours. The commercial segment accounted for 37 percent of Meralco's sales, the residential segment remained at 35 percent, while industrial segment declined to 28 percent. "Our strategic expansion and social development initiatives have always been anchored on our firm commitment to create additional and transformative value to our stakeholders, power the country's economic progress, and contribute further to the advancement of the government's socio-economic agenda," Pangilinan said. Moreover, the outlook for 2024's bottom line "looks good," Meralco COO Ronnie Aperocho said in a media briefing. "[So far], we don't see significant problems," Pangilinan said, likewise seeing a positive outlook for this year's income.