DMCI Power Posts 20% Sales Growth in Q1

Off-grid energy player DMCI Power Corporation (PSE: DMC) posted double-digit sales growth in the first quarter, with total volume sold reaching 76GWh from 63GWh during the same period last year.

The 20-percent increase was driven by the strong take-up of Oriental Mindoro Electric Cooperative (ORMECO), Palawan Electric Cooperative (PALECO) and Masbate Electric Cooperative (MASELCO).

Energy sales to ORMECO surged 39 percent from 11.39GWh to 15.87GWh mainly due to the rehabilitated 69kV transmission line from Calapan to Puerto Galera.

“The National Power Corporation completed the rehabilitation of the transmission line in May last year. Since then, we have been able to maximize the generation capacity of our power plant,” explained DMCI Power president Nestor D. Dadivas.

Dispatch to PALECO rose 19 percent from 27.83GWh to 33.21GWh as tourist arrivals continued to boost energy consumption in the area.

According to the Provincial Tourism Office, Palawan tourist arrivals from January to March soared 20 percent to 1.165 million.

Meanwhile, strong economic activities in Masbate led to a 12-percent jump in dispatch to MASELCO from 26.64GWh from 23.76GWh.

“We are confident that sales volume to our offtakers will continue to grow in the ensuing months of 2019,” Dadivas added.

DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid.