November 20, 2018 | 12:01 am
DMCI Power Corp.
registered a 24.9% increase in energy sales in the nine months to September at
226 gigawatt-hours (GWh) from 181 GWh a year ago due to the higher power demand
and dispatch across its operating segments, its parent firm said on Monday.
“The continued economic
growth and booming tourism industry across all operating segments coupled with
our reliable operations and effective partnership with the off-takers accounted
for the dramatic increase in our power sales,” said DMCI Power President Nestor
D. Dadivas in a statement.
Off-grid energy company
DMCI Power, a unit of the Consunji-led DMCI Holdings, Inc., said energy sales
to Palawan Electric Cooperative (Paleco) reached an “unprecedented” growth of
39% to 96.35 GWh from 69.32 GWh a year ago.
Power sales to Oriental
Mindoro Electric Cooperative (Ormeco) rose by 24% to 47.61 GWh from 38.38 GWh,
while those to Masbate Electric Cooperative (Maselco) increased by 11% to 81.99
GWh from 73.73 GWh.
Despite the record
sales in all operating segments, DMCI Power’s consolidated net income slipped
4% to P337 million from P325 million in the same period last year.
“This was primarily due
to a reduced provisional tariff rate for its Aborlan bunker-fired power plant,”
the company said.
Mr. Dadivas said he was
hopeful that DMCI Power’s pending motion for recomputation with the Energy
Regulatory Commission (ERC) would be taken up soon now that the agency has a
full set of commissioners.
“Meanwhile, [DMCI
Power] is committed to sustain the economic growth of these missionary areas by
supplying reliable energy to meet the power demand required by the
cooperatives,” he said.
DMCI Power was put up
in 2006 to provide sufficient and reliable electricity to areas that are not
connected to the main transmission grid.
In May, DMCI said the
subsidiary would have a capital expenditures of P2.034 billion largely to fund
the development of a 15-megawatt (MW) power plant in Masbate province.
DMCI is setting aside
P40.7 billion this year, the bulk of which will go into its property and
integrated energy businesses.
In March, the parent
firm said DMCI Power had been allocated P160 million to acquire seven new
diesel generating sets for its Masbate and Palawan operations.
The additional units,
which have a total capacity of 11.2 MW, will raise DMCI Power’s generation
capacity in the two missionary areas to 90 MW, or an improvement of 14% from
last year.
Masbate and Palawan
have contributed largely to DMCI Power’s 2017 energy sales, which grew by 4% to
247.06 GWh from 237.85 GWh previously. — Victor V. Saulon
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