In a disclosure, First Gen said net income attributable to equity holders of the parent company went up by 28.9 percent to $84 million from $65.2 million year-on-year. Consolidated revenues from the sale of electricity, however, were flat at P23.2 billion ($483 million), 0.3-percent lower from P24.4 billion ($481 million) in the first quarter of 2020. During the three-month period, the energy firm’s natural gas portfolio accounted for 55 percent of First Gen’s total consolidated revenues. Meanwhile, its subsidiary Energy Development Corp.’s (EDC) geothermal, wind, and solar revenues accounted for 40 percent of First Gen’s total consolidated revenues. The hydro plants accounted for 5 percent of total consolidated revenues.

Source: Manila Times May 14, 2021 16:50 UTC