May 31, 2019 | 12:07 am
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
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