3 hours ago
2
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
Aboitiz Power Corp. (AboitizPower) reported a dip in its net income contribution to its parent, Aboitiz Equity Ventures, Inc. (AEV), during the first quarter of 2025.
In a disclosure to the Philippine Stock Exchange on Tuesday, April 30, the company said lower prices in the Wholesale Electricity Spot Market (WESM), scheduled plant shutdowns, lower energy sales, and the non-recurring refund were factors in these lower contributions.
In the first three months of this year, AboitizPower made a ₱2.5 billion contribution to AEV, a 39 percent drop from last year to around ₱4.2 billion.
The figure from last year was seven percent higher than the first quarter period in 2023.
“Lower spot market and the upfront scheduled outages of the Pagbilao, Therma Visayas, Inc. (TVI) and GNPower Mariveles Energy Center (GMEC) plants tempered AboitizPower’s beneficial Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA),” the company reported.
The power firm’s EBITDA stood at ₱15.1 billion, which is eight percent lower than last year’s record of ₱16.4 billion.
The EBITDA in AboitizPower’s generation and retail supply unit also declined 10 percent from ₱14.6 billion in the first quarter of 2024 to ₱13.1 billion in this year’s first quarter.
Energy sales also decreased from 8,812 gigawatt-hours (GWh) to 8,650 GWh.
Despite this, the company welcomed fresh supply contributions from Chromite Gas Holdings, Inc., which is an investment between power giants AboitizPower’s Therma NatGas Power Inc. (TNGP), Meralco PowerGen Corporation (MGen), and San Miguel Global Power Holdings Corp. (SMGP).
Three solar plants contributed to the firm’s EBITDA: the 159 megawatt peak (MWp) Laoag, 45 MWp Armenia, and 173 MWp Calatrava plants.
Previously, AboitizPower president and chief executive officer Danel Aboitiz assured that its renewable energy (RE) capacity is set to increase in the near future, as well as welcoming new coal projects.
“To date, Aboitiz Power has also begun the construction of an additional unit of coal, two solar power plants, three battery energy storage projects, and our first wind project, which we target to complete in the fourth quarter of 2026,” he said during the annual stockholders meeting.
According to the Aboitiz chief, the company has generated around 28.6 terawatt-hours (TWh) of energy last year.
