Despite this, the company achieved record coal shipments of 16.5 million metric tons and generated 5,358 gigawatt-hours (GWh) of electricity, showing resilience amid shifting energy market conditions.
However, profit in the fourth quarter fell 26 percent to P3.9 billion, as weaker coal prices outweighed stable power revenues.
Management’s view
“Despite price corrections, we focused on key factors within our control—maximizing production, achieving record-high coal shipments and power generation,” said SMPC president, chief operating officer and chief sustainability officer Maria Cristina C. Gotianun.
“Our disciplined strategy and dedicated team played a crucial role in navigating energy market shifts,” she added.
Softer coal shipments
Coal shipments in the fourth quarter dropped 19 percent to 4.3 million metric tons, while production fell 31 percent to 2.9 million metric tons, with SMPC focusing on preparing two new mining blocks.
Coal prices slid 15 percent to P2,821 per metric ton, reflecting lower-grade shipments and moderating global demand.
Electricity prices dipped 3 percent to P4.16 per kilowatt-hour (kWh), as declining spot market rates were partially offset by stronger long-term contracts.
