Off-grid energy player DMCI Power Corp. reported a consolidated net income of P337 million in the first nine months of 2018, up four percent from P325 million year-on-year, after record sales were tempered by reduced provisional tariff rate for its Aborlan bunker-fired power plant.
DPC president Nestor Dadivas said the company posted a 25-percent growth in revenues in the first nine months of 2018, with volume reaching 226 gigawatt per hour from 181 GWh in the previous year.
The higher power demand and dispatch across all operating segments accounted for the 25-percent improvement.
Energy sales to Palawan Electric Cooperative rose a record 39 percent to 96.35GWh from 69.32GWh on the year.
Sales to Oriental Mindoro Electric Cooperative grew 24 percent from 38.38GWh to 47.61GWh, while the dispatch to Masbate Electric Cooperative climbed 11 percent from 73.73GWh to 81.99GWh.
“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 Dadivas.
He said the company was waiting for the Energy Regulatory Commission’s decision on its request for a re-computation of the Aborlan power plant rate.
“We are hopeful that our pending motion for re-computation with the Energy Regulatory Commission will be taken up soon now that ERC has a full set of commissioners,” Dadivas said.
“DPC 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 added.
Dadivas said the company was prepared to submit unsolicited proposals to expand the capacity of power plants in Masbate, Oriental Mindoro, and Palawan provinces.
DPC was established in 2006 to provide sufficient and reliable electricity to areas not connected to the main transmission grid.