Semirara Mining and Power Corp. (SMPC) expect its first-quarter energy generation to be lower by at least 20% because of the series of power plant closures during the period, company officials said.
“This year we are down on a year-on-year basis,” Victor A. Consunji, SMPC president and chief operating officer, told reporters after the company’s annual stockholders meeting in Makati City. “I don’t know exactly how many megawatts-hours but we’re down more than 20%,” he said.
The projected decline in energy generation for the quarter would be a reversal of SMPC’s robust growth for 2017 when it recorded a 21% increase to 5,202 megawatt-hours (MWh) because of the augmented capacity of Sem-Calaca Power Corp.’s first unit and the higher availability of the second unit.
SMPC’s Southwest Luzon Power Generation Corp. (SLPGC) also recorded full commercial operation of its two-unit circulating fluidized bed each with a capacity of 150 MW. T
he two are the company’s only operating power plants. A third project is awaiting regulatory approval on its power supply agreement.
Consunji said SMPC would be reporting its first-quarter performance later this week, which will disclose in detail the drop in the company’s energy generation. He declined to quantify the corresponding value of the power generation slide.
On Monday, SMPC told the stock exchange that the first unit of Southwest Luzon will continue to be shut down for about 90 days to allow the full completion of repairs of the machine.