GPSC H1 profit climbs 12% on industrial power demand

Its Small Power Produces business gained from higher electricity and steam demand.

Thailand's Global Power Synergy Public Company Limited (GPSC) reported a net profit of $107.37m (THB3.54b) for the first half (H1) of 2026, up 12% from a year earlier, supported by higher electricity and steam demand from industrial customers and stronger hydropower performance in Laos.

Its Small Power Producer (SPP) business benefited from increased demand from industrial users, whilst its Xayaburi and Houay Ho hydropower plants in Lao PDR delivered stronger performance due to favourable water levels.

Worawat Pitayasiri, CEO of GPSC, said the company’s H1 performance reflected improved operations across its power portfolio, lower fuel costs compared with the previous year, diversified fuel management, and reduced financial costs.

For the second quarter (Q2) of 2026, GPSC posted a net profit of $55.20m (THB1.82b), up 6% from the previous quarter.

The increase was supported by the return of the GHECO-One power plant to full operations after planned maintenance and efficiency improvements in the first quarter.

Glow IPP and Houay Ho Hydropower Plant also recorded higher electricity sales volumes following dispatch instructions from the Electricity Generating Authority of Thailand.

The SPP business gained from higher electricity and steam demand as industrial conditions improved.

GPSC also reported higher contributions from its associates and joint ventures, including Avaada Energy Private Limited, which benefited from seasonal factors and the start of commercial operations from new capacity.

The company’s total commercial capacity reached 7,256 megawatts at the end of Q2.

GPSC’s board approved an interim dividend of about 1.7 US cents (THB0.55) per share from its H1 operating results. The record date for eligible shareholders is 20 August, with payment scheduled for 3 September.

The company said it is preparing for opportunities under Thailand’s new Power Development Plan, including potential contract renewals, production efficiency upgrades, clean energy projects, and energy infrastructure developments.

GPSC said electricity demand from data centres and future industries will be a key driver of long-term growth.

(US$1 = THB32.97)