By Lenie Lectura - May 7, 2018
SEMIRARA Mining and Power Corp.
(SMPC) sees a decline in energy output in the first quarter of the year, mainly
on account of plant-outage incidents.
“I don’t know exactly how many
megawatt [MW] hours, but we’re down more than 20 percent,” company President
and COO Victor Consunji said.
Consunji added unit 1
of Southwest Luzon Power Generation Corp. (SLGPC) is still on shutdown.
“We have a rotor problem. The outage is extended until August this year.”
In March unit 1 of SLPGC was shut
down due to abnormal turbine vibration. The company said in a disclosure
to the stock exchange on Monday that unit 1 shut down will
continue for about 90 days to allow the full completion of repairs of the
machine.
SLPGC power plants have machinery
breakdown and business interruption insurance cover.
The company is now closely working
and coordinating with reinsurers and their technical consultants to reinstate
the unit back to full operation.
Consunji is hopeful the expected
decline in power generation will not hurt the company’s first quarter numbers.
“We hope not because the company’s
coal business could offset the decline in its power business,” Consjuni added.
The company will release its
first-quarter financial report on Thursday.
In 2017 a favorable coal-market
condition increased the company’s net income to P14.2 billion, or 18 percent
higher.
Also, the company’s energy
generation last year increased 21 percent to 5,202 megawatts due to the
augmented capacity Sem-Calaca Power Corp. (SCPC) unit 1, higher
availability of SCPC unit 2 and full commercial operation of the 2×150-MW power
units.
The company said 2017 was an
excellent year, “allowing us to refocus on our core strategies.”
For 2018 SMPC is hopeful it will
surpass last year’s performance.
“Of course, everybody will try for
improvements,” company Chairman Isidro Consunji said.
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