Semirara Mining and Power Corp., the energy arm of the Consunji Group, saw profits tumble in 2025 as softer coal and electricity prices offset record production and power sales, underscoring the impact of easing energy markets after the commodity surge of recent years.
The integrated coal and power producer reported net income of P13.1 billion in 2025, down 33 percent from P19.6 billion a year earlier. The decline reflected lower coal and electricity prices, reduced shipments and higher production costs.
President and chief operating officer Maria Cristina C. Gotianun said the company remained operationally strong despite weaker market conditions.
“Prices were softer this year, but our operations still delivered record coal production and electricity sales,” Gotianun said. “We’re also working to broaden our markets while keeping our mines and power plants running well.”
Global coal benchmarks softened during the year. The Newcastle Coal Index fell 22 percent to an average of USD105.6 per ton from USD135.2 in 2024, while the Indonesian Coal Index 4 declined 15 percent to USD46.1.
Electricity prices also retreated. Average spot prices in the Luzon and Visayas grids dropped 27 percent to P3.73 per kilowatt-hour amid wider supply margins in the Wholesale Electricity Spot Market.
Fourth-quarter net income slipped 19 percent to P3.2 billion as softer energy prices and lower coal shipments weighed on both business segments.
Despite the profit drop, Semirara delivered strong operational numbers. Coal production jumped 24 percent to a record 19.9 million metric tons, supported by improved access to seams at the Narra mine and regulatory approval allowing up to 20 million tons in annual output.
Total coal shipments, however, edged down 7 percent to 15.4 million tons as export deliveries slowed and demand softened for some lower-calorific coal.
The power business posted record electricity sales of 5,296 gigawatt-hours, up 7 percent from the previous year, driven by improved plant reliability.
Even with softer prices, Semirara’s ability to raise output highlights the resilience of its vertically integrated model, though earnings remain closely tied to global energy price cycles.
