ABOITIZ Power Corporation (AboitizPower) said on Wednesday its net income in 2016 grew 14 percent to P20 billion from P17.6 billion in 2015, driven by the strong performance of its power generation business. Adjusting for these one-offs, its core net income rose 12 percent to P20.6 billion from P18.4 billion in 2015. As of end 2016, AboitizPower’s net sellable capacity was at 2,975 MW after the Philippine Competition Commission’s approval of the GNPower Mariveles acquisition. Total attributable electricity sales increased by 7 percent in 2016 to 5,105 GWh as energy sales grew across all customer segments. AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.

Source: Manila Times March 08, 2017 17:03 UTC