POWER producer Aboitiz Power Corp. (AboitizPower) reported a 31% increase in its second-quarter (Q2) net income, driven by stronger electricity prices, higher generation from its hydropower facilities, and contributions from newly commissioned solar plants.
In a disclosure to the stock exchange on Wednesday, AboitizPower said its net income for the April-to-June period rose to P10.5 billion from P7.9 billion a yr earlier.
The corporate attributed the rise to higher margins in its generation business, supported by stronger Wholesale Electricity Spot Market (WESM) prices, higher generation from the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex, and the energization of three solar farms.
For the primary six months of the yr, AboitizPower’s net income increased by 45% to P18.4 billion from P12.7 billion in the identical period last yr.
Core net income rose by 41% to P18 billion from P12.8 billion a yr earlier.
In the course of the six-month period, electricity sold by the corporate’s generation and retail electricity supply businesses increased by 17% to 22,764 gigawatt-hours (GWh) from 19,440 GWh a yr earlier.
Meanwhile, energy sales in its distribution business rose by 6% to three,606 GWh.
For 2026, AboitizPower has earmarked P62 billion in capital expenditures, primarily for its pipeline of renewable energy and battery energy storage system projects.
The Aboitiz Group maintained its position because the country’s largest power producer, with a complete attributable capability of 6,850.63 megawatts, akin to a 24.3% market share.
Shares in AboitizPower fell 0.68% to P43.90 each on Wednesday. — Sheldeen Joy Talavera