By Danessa Rivera (The
Philippine Star) | Updated May 15, 2017 - 12:00am
MANILA, Philippines - Higher coal
and electricity sales pushed up Semirara Mining and Power Corp.’s income 52
percent in the first quarter of 2017.
Semirara said its net income in the
first three months amounted to P4.42 billion versus the P2.91 billion booked in
the same period last year.
It said its coal business
contributed P2.59 billion while its power segment added P1.83 billion.
Semirara attributed the higher income
from the coal business, which sold 32 percent more coal to external customers
at 2.9 million metric tons (MT).
“The higher volume sold was
complemented by the 31 percent increase in effective or composite average price
compared to (the first quarter of) 2016,” it said.
For the period, combined coal
production from the Molave and Narra mines reached four million MT, a 17
percent rise from 3.4 million MT last year due to higher excavating capacity.
Total coal sales volume, inclusive
of sales to the company’s own power plants, increased 24 percent from 2.9
million MT to 3.6 million MT.
For its power business, Semirara
said it was mainly driven by the Sem-Calaca Power Corp., whose energy
generation rose 63 percent from 346 gigawatt-hours (gwh) to 562 gwh mainly from
the higher generation of Unit 2, which was on maintenance shutdown the whole
first quarter last year.
Total energy sold increased 38
percent from 424 gwh to 586 gwh.
Sem-Calaca owns and operates the
2x300-megawatt (MW) coal-fired power plants in Batangas.
Meanwhile, power generation from
another subsidiary, Southwest Luzon Power Generation Corp. (SLPGC), increased
two percent from 217 gwh to 221 gwh.
Average load was higher at 231 MW
compared to 215 MW last year but availability of both units were lower to give
way for further enhancements of the power units. Volume sold also dipped six
percent at 234 gwh from 250 gwh last year.
SLPGC is the 2x150-MW expansion of
the Sem-Calaca plant.
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