MANILA, Philippines — Off-grid power developer DMCI Power Corp. (DPC) said it performed strongly during the nine months to September in terms of sales volume.
In a disclosure to the Philippine Stock Exchange, DPC said it posted double-digit sales growth during the period, with volume reaching 226 gigawatt hours from 181 gwh the previous year.
DPC president Nestor Dadivas attributed the sales surge to higher power demand during the period.
“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,” Dadivas said.
Energy sales, for instance, to Palawan Electric Cooperative (Paleco) registered unprecedented growth at 39 percent, rising to 96.35 gwh from 69.32 gwh for the same period last year.
Oriental Mindoro Electric Cooperative (Ormeco) power sales grew 24 percent from 38.38 gwh to 47.61 gwh, while dispatch to Masbate Electric Cooperative (Maselco) advanced 11 percent from 73.73 gwh to 81.99 gwh.
However, despite the record sales in all operating segments, DPC said its consolidated net income stood at P337 million, four percent higher from last year’s P325 million.
Dadivas said this was primarily due to a reduced provisional tariff rate for its Aborlan bunker-fired power plant.
“We are hopeful that our pending motion for recomputation with the Energy Regulatory Commission (ERC) will be taken up soon now that ERC has a full set of commissioners. Meanwhile, 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,” Dadivas said.
DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid. Its off-takers include Maselco, Ormeco, Paleco and Sultan Kudarat Electric Cooperative.