DMCI Power Corp. (DPC) reported a 10% increase in first-half income to P234 million, the parent firm of the Consunji-led off-grid power generation company said, after it recorded double-digit growth in sales.
During the six-month period, DPC posted a 19% increase in sales volume after an rise in power demand and the improvement of distribution and transmission line systems within its operating areas, DMCI Holdings, Inc. told the stock exchange on Thursday.
“The significant sales growth in Palawan is attributable to the increase in [DMCI Power’s] level of dispatch following the expiration of Delta-P’s old power supply contract in April,” said DMCI Power President Nestor D. Dadivas.
“Our Palawan power plants became the second priority in terms of energy dispatch so we were able to maximize our contractual capacity in the area,” he added.
Electricity sales in the first half hit 169.5 gigawatt-hours (GWh) from 142.91 GWh in the same period last year.
The Palawan segment accounted for 43% of the total sales volume, followed by Masbate and Oriental Mindoro with 35% and 22%, respectively.
DMCI Holdings said the continuous rehabilitation of the 69-kilovolt (kV) transmission lines in Oriental Mindoro and ongoing improvement of distribution lines in Masbate accounted for the double-digit sales growth in both provinces.
DMCI Power is one of the country’s largest off-grid energy players in terms of total installed capacity in the Philippines. It was established in 2006 to provide sufficient and reliable electricity to missionary areas.
The parent firm did not release quarterly financial figures for DMCI Power.
On Thursday, shares in DMCI Holdings fell by 1.19% to close at P9.13 each. — V.V.Saulon
