Consunji power firm posts lower profits
Consunji-led DMCI Power Corp. (DPC) reported a five percent drop in its nine-month income to P324 million because of the expiration of its income tax holiday for its Masbate operations.
Electricity sales volume was flat at 181.43 gigawatt-hours (GWh) due to reduced energy dispatch to Mindoro and Palawan.
Energy sales to Palawan Electric Cooperative declined one percent to 69.32 GWh while volume sold to Oriental Mindoro Electric Cooperative contracted six percent to 38.38 GWh.
Sales volume to Masbate Electric Cooperative rose four percent to 73.73 GWh.
The marginal decline in total sales volume was offset by a 19 percent increase in average selling price, primarily due to higher fuel prices.