Integrated energy firm Semirara Mining and Power Corp. (SMPC) reported a P4.1 billion net income in the second quarter of 2025, a 33 percent decline from P6.1 billion in the same period last year, as coal and electricity prices continued to stabilize from 2023 highs.
“While energy prices eased, we ramped up coal production and boosted power generation. By keeping our costs under control and operating more efficiently, we were able to cushion the impact of weaker prices,” said SMPC president and chief operating officer Maria Cristina C. Gotianun.
Global coal benchmarks fell sharply year-on-year, with the Newcastle Index down 26 percent to USD100.5, and Indonesia’s ICI4 dropping 16 percent to USD46.4. Locally, Luzon-Visayas spot electricity prices slid 42% to P4.04 per kilowatt-hour.
SMPC said first-half net income likewise fell 33 percent to P8.4 billion.
Second-quarter net profit dropped to P4.07 billion from P6.05 billion. Coal production in the second quarter rose 8 percent to 5.6 million metric tons, supported by better mine access. Sales held steady at 4.6 million MT, but the average selling price fell 20 percent to ₱2,223/MT, reflecting market trends and a higher mix of lower-grade coal.
Power sales climbed 17 percent to 1,435 gigaWatt-hours, driven by stronger capacity availability. However, electricity prices dropped 19 percent to P4.51 per kiloWatt-hours.
Gotianun said SMPC expects prices to remain stable and will focus on hitting its 18 million metric tons of coal target and optimizing power generation to boost contracted capacity.
