AC Energy Corporation’s profit margin from sale of electricity was 22% in the first half of 2021. Revenue from sale of electricity during that period was 13.3 Billion Pesos while costs of electricity was 10.4 Billion Pesos. That would leave a gross profit of 2.9 Billion Pesos or 22% of sales.
Compare that to 1H 2020, were ACEN generated electricity sales of 9.9 Billion Pesos. Cost of electricity for that period was 6.4 Billion Pesos giving ACEN a gross profit of 3.5 Billion Pesos. The gross profit of ACEN’s electricity sales in 1H 2020 was higher than the gross profit in 1H 2021. ACEN’s 1H 2020 gross profit margin translates to 35% of sales.
ACEN explained that the costs of sale of electricity increased because of the higher cost of purchased power, due to high WESM prices during the SLTEC outage. Power for station use and start-up costs also increased due to the outages. The costs of electricity also included the cost of refractory works in thermal operation.
It can easily be derived from that fact that SLTEC still drives the profit and loss statement of ACEN. SLTEC or South Luzon Thermal Energy Corporation is a 244MW coal fired power plant in Calaca, Batangas. Coal prices have risen significantly.

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