The National Transmission Corporation (Transco), of which the government has lined up for new round of negotiations for its concession deal, has registered a record income of P7.7 billion during the first half; topping its profit level for the same period last year and matching up half of its 2003 full-year income of P15.38 billion.
A highly-placed source from the company indicated that such is still subject for final audit thus, the formal release of the profit figures has yet to be done.
So far, he noted the firm’s performance has been doing well; and such development is seen to bear positive response from potential investors; as the government is again on a "scouring spree" on new interested parties in its proposed 25-year concession contract.
Among the main factors that triggered upsurge in Transco’s profitability was the continued increase in its sales level; and partly due to some revenues flowed in because of sale of some of its sub-transmission assets.
Over the full-year stretch in 2003, the transmission firm posted 4.0 percent growth in its energy sales with a total volume of transmitted electricity at 99,846 megawatts from the previous year’s 96,104-MW month.
Transco’s corporate planning group explained that a higher figure has been registered for power delivery compared to the system peak because it uses a different method to compute for revenues.
Power delivery refers to the sum of the transmission company’s 12-monthly billing demand in megawatts. (MMV)
