BPC bounces back to profits, targets higher exports

Documents shared with BusinessWeek indicate that powered by Morupule B, local generation ballooned to 81% last year, the strongest in the years since the 2008 power crisis. Imports accounted for only 19% of power consumed in 2017/18.

Preliminary numbers sourced by BusinessWeek suggest the BPC posted a P200 million profit for 2017/18, a huge leap from a P140.3 million loss in 2016/17. The profit is the first since 2008, when a regional power crisis saw the BPC slump to losses which peaked at P1.6 billion in 2010. The losses triggered government subsidies from 2011 that by last year had amounted to P9.7 billion.