Monday, April 10, 2017

DMCI’s power unit records double-digit sales growth

Posted on March 22, 2017

DMCI POWER Corp. recorded a 14% growth in energy sales last year to 240 gigawatt-hours (GWh) as power demand rose and dispatch across all cooperatives increased, the company’s parent firm said on Tuesday.

In a disclosure to the stock exchange, DMCI Holdings, Inc. reported double-digit growth rates for its subsidiary’s power sales to customers in Palawan, Oriental Mindoro and Masbate.

DMCI Power President Nestor D. Dadivas said in a statement: “We are pleased to serve the growing electricity demand in our service areas. With our continued partnership with local cooperatives, we can deliver reliable electricity to even more off-grid communities.”

Palawan posted the biggest growth in sales at 17% to 91.27 GWh from 78 GWh. The company said the upturn was because of the rise in economic activity in the province and the installation of a satellite plant in Brooke’s Point.

DMCI Power, one of the biggest off-grid power producers in the country, has a long-term power supply agreement with Palawan Electric Cooperative (PALECO).

On Mindoro island, power sales to Oriental Mindoro Electric Cooperative (ORMECO) increased by nearly 12% to 51.76 GWh from 46.24 GWh as DMCI Power’s 15-MW bunker-fired diesel power plant in Calapan City marked its full-year operations.

In the Bicol region, the company’s dispatch to Masbate Electric Cooperative (Maselco) grew by 11% to 94.91 GWh from 85.81 GWh. This came after a 5% rise in the distribution utility’s line connections.

Aside from the PALECO, DMCI Power has power supply agreement (PSA) with ORMECO and Maselco. Its PSA with PALECO, for instance, requires it to deliver a guaranteed dependable capacity of 25 MW for 15 years starting on Sept. 1, 2013, which is pending final resolution with the Energy Regulatory Commission.

In November last year, DMCI Power said it would be building three identical units of 6.3-MW bunker-fired power plant in Irawan, Puerto Princesa City upon the request of PALECO. The company will invest around P900 million to complete the facility, which is targeted for commercial run by the last quarter of 2017.

The move came after the PALECO board requested the company to replace its existing high-speed diesel generator sets to a more reliable bunker-fired plant to assist in alleviating the power interruptions in the main grid of Palawan.

DMCI Power recommended the installation of the generating sets in Puerto Princesa City, which serves as the load center of PALECO. Building the new plant in the chosen site is expected to lessen transmission line constraints in the delivery of power. -- Victor V. Saulon

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