DMCI Power sales jump 20% in Q1

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DMCI Power Corp. reported a 20% rise in sales in the first quarter, driven by an increase in energy demand from its three electric cooperatives in Oriental Mindoro, Palawan and Masbate.

In a disclosure to the stock exchange, listed parent company DMCI Holdings, Inc. said the off-grid energy player reported total volume sold increased to 76 gigawatt-hours (GWh) during the January to March period, from 63 GWh in the same period last year.

“The 20% increase was driven by the strong take-up of Oriental Mindoro Electric Cooperative (Ormeco), Palawan Electric Cooperative (Paleco) and Masbate Electric Cooperative (Maselco),” the Consunji-led company said.

Energy sales to Ormeco stood at 15.87 GWh during the first quarter, surging 39% from 11.39 GWh in the same period last year. This was driven by the opening of the rehabilitated 69-kilo volt (KV) transmission line from Calapan to Puerto Galera.

“The National Power Corporation completed the rehabilitation of the transmission line in May last year. Since then, we have been able to maximize the generation capacity of our power plant,” DMCI Power President Nestor D. Dadivas said in the statement.

Energy sales to Paleco went up 19% to 33.21 GWh in the three-month period, due to an increase in tourist arrivals in Palawan.

Citing the Provincial Tourism Office of Palawan, DMCI Power said tourist arrivals in the island during the first quarter rose 20% to 1.165 million.

Meanwhile, DMCI Power said dispatch to Maselco jumped 12% to 26.64 GWh, as Masbate saw “strong economic activities” during the first quarter.

“We are confident that sales volume to our offtakers will continue to grow in the ensuing months of 2019,” Mr. Dadivas was quoted as saying.

DMCI Holdings earlier said it will allocate P1.3 billion from its P31-billion capital expenditures (capex) this year to DMCI Power. The off-grid energy business posted a net income of P100 million in the first quarter, up 32% from the P76 million it recorded in the same period last year. — Denise A. Valdez