, Philippines

Aboitiz Power recovering after typhoon setbacks: report

Its distribution sales volumes rose 4.8% year-on-year.

Philippine-based Aboitiz Power's core net profit may have declined year-on-year in the third quarter of 2023, but brokerage firm CGS-CIMB, sees that the business has been recovering after drawbacks from Typhoon Odette's impact in 2021.

The power generation segment's energy sales grew 7.7% YoY but declined 2.8% QoQ due to lower spot prices in Q3 2023. However, its distribution sales volumes posted growth of 4.8% YoY and 0.6% QoQ.

The core net profit for the first nine months of 2023 increased by 45.2% to P26.6b, in line with expectations.

Aboitiz Power's management also sees value in maintaining a significant presence in the spot market, expecting continued high spot prices in fiscal year 2024. They are also investing in upgrading and expanding their power generation portfolio.

The business is also considering new investment opportunities, including the 796.5MW Caliraya-Botocan-Kalayaan hydropower project.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Cambodia’s 18-year energy plan sets ambitious targets for renewables
To attain energy security, Cambodia will have to overcome investment challenges, cut wasteful consumption, and review pricing policies. 
Asia needs natural gas to balance ‘energy trilemma’
Natural gas is cleaner than coal and would support the intermittency of renewables, ANGEA said.