On a YTD basis, the generation business accounted for 89% of earnings contributions from Aboitiz Power’s business segments, recording an income share of P11.3 bn for the first semester of 2012, up 11% YoY. Netting out one-off items, AboitizPower’s generation business shored in P10.6 bn for the period, which was 12% higher than last year.
The group’s average price for its power increased by 7% YoY during the first half of 2012. This was on the back of a 42% YoY rise in average selling prices at the Luzon Grid’s WESM. Supply of power in Luzon was curtailed given higher outage levels during the period in review. Meanwhile, the Luzon Grid recorded a peak demand of close to 7,800 MW, a 5% YoY increase. The hotter climate was one of the factors that led to the increase in power requirements.
AboitizPower’s attributable net generation for the semester grew by 10% YoY, from 4,640 GWh to 5,096 GWh. This was mainly accounted for by the 14% YoY expansion in power sales through bilateral contracts. On a capacity basis, the Company’s attributable sales increased by 13% YoY, from 1,351 MW to 1,532 MW, given the rising capacity sales through bilateral contracts and improved levels of ancillary services.
The completion of the rehabilitation of the Ambuklao (all 3 units) and Binga (1 of 4 units) hydropower plants, coupled with the commercial operation of the 4-MW Irisan Greenfield hydropower plant resulted to a marginal increase in AboitizPower’s attributable capacity to 2,350 MW as of end-June 2012.
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