Power generation dropped 17% in H1 due to outages
Ehda M. Dagooc (The Freeman) - August 1, 2020 - 12:00am

CEBU, Philippines —  Electric generation in the first half of 2020 plunged by 17 percent, due to forced outages brought about by the lockdown.

AboitizPower reported that its generation and retail supply business recorded EBITDA of P14.8 billion in the first half of 2020, 17 percent lower than the P17.8 billion recorded last year.

This is mainly due to the reduced demand resulting from COVID-related community quarantines, as well as forced outages in the first half of the year involving Pagbilao units 1-3, TSI Unit 2, and GMCP Unit 2, a company official statement revealed.

These reductions offset the decrease in purchased power costs during the first half of 2020, and revenues from Therma Visayas, Inc. (TVI)  and Therma Mobile, Inc. (TMO), which were both online since January of this year, as opposed to the second quarter of last year.

Moreover, EBITDA for the first quarter of 2019 also included income from the Generation Rate Adjustment Mechanism and Incremental Currency Exchange Rate Adjustment, which were not available as income during the first half.

Capacity sold on the other hand increased by 12 percent to 3,388 megawatts (MW) from 3,035 MW in the same period last year. This was due to increased contracting levels driven by the new capacity of TVI and TMO.

Because of the lower demand brought by the pandemic and forced outages, energy sold declined by 6% to 10,764 gigawatt-hours (GWh) from  11,460 GWh.

In its distribution business, AboitizPower’s recorded EBITDA of P3.7 billion, 0.5 percent lower versus the same period last year.

Energy sales also decreased by seven percent to 2,629 GWh from 2,842 GWh. This was driven by lower energy consumption from the commercial and industrial customer segments because of community quarantines.

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