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Eye on Earnings: Mixed results for power firms
The nation’s biggest power distributor shines through as spot prices remain subdued
By German de la Paz III and Charles Randy Lumhod
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Aggregate earnings of power companies that form part of the benchmark Philippine Stock Exchange index show a lackluster third quarter (3Q), but a closer look reveals a bright spot.
Subdued electricity spot prices stunted two companies’ earnings while another firm’s power generation sector lit up an otherwise bleak quarter for the sector.
The companies’ share prices reflect the contrast in financial performance, with the sector’s winner outperforming the others by a wide margin.