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Manila Bulletin devider Business devider The Stock Market devider Lower energy prices drag down Semirara Mining's profit in first semester

Lower energy prices drag down Semirara Mining's profit in first semester

Published Aug 4, 2025 02:53 pm
Consunji-led Semirara Mining and Power Corp. (SMPC) reported a drop in its net income due to lower coal and electricity prices.
In a disclosure to the Philippine Stock Exchange on Monday, Aug. 4, SMPC recorded that its consolidated net income in January to June this year decreased to ₱8.4 billion from ₱12.6 billion in the same period last year.
According to SMPC, lower electricity prices declined from higher levels in 2023.
Its net income for the quarter ending June also dropped to ₱4.1 billion from ₱6.1 billion a year earlier, as coal and electricity rates continued to ease.
The firm’s overall revenues also posted an 18 percent drop, from ₱18.17 billion to ₱14.8 billion on the back of lower selling prices in coal.
Total revenues declined by 18 percent, from ₱18.17 billion to ₱14.82 billion, largely reflecting lower selling prices in the coal segment and weaker prices in the Wholesale Electricity Spot Market (WESM).
Despite the lower earnings, Maria Cristina Gotianun, SMPC president, chief operating officer, and chief sustainability officer, explained that the company is improving its coal output and power generation.
“While energy prices eased, we ramped up coal production and boosted power generation. By keeping our costs under control and operating more efficiently, we were able to cushion the impact of weaker prices,” she elaborated.
“Our focus is on ramping up coal production toward our 18 million metric ton (MT) target and optimizing our generation mix to maximize contracted capacity,” Gotianun said.
Meanwhile, its power sales increased by 17 percent to 1,435 gigawatt-hours (GWh) due to higher available plants and higher average capacity.
56 percent of the overall capacity was sold to WESM, while 44 percent was covered by bilateral contracts.
This followed after the 77-day planned outage of its SEM-Calaca Power Corporation (SCPC) to restore its 300-megawatt (MW) capacity.
“As of end-June, 38 percent of SMPC’s 840 MW total dependable capacity was contracted. After accounting for periodic station service, 435.60MW was available for spot market sales,” the company stated.
The Semirara coal average selling price, on the other hand, eased by 20 percent from ₱2,780/MT to ₱2,223/MT; its total production marginally inched up by eight percent from 5.2 MMT to 5.6 MMT due to access to coal seams at the Narra mine.
Total shipments during the second quarter stood at 4.6 MMT, with increased own-plant sales compensating for the lower exports.

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Semirara Mining and Power Corp. (SMPC)
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