First Gen Corporation is one of the few energy companies that managed to grow earnings in a volatile environment. The Lopez-led firm posted a 3 percent increase in nine-month profit to 212 million US dollars, supported by strong hydroelectric output and rising revenues from its new LNG terminal.
High water inflows lifted hydro generation in the Visayas, while LNG sales tripled year on year. However, revenues from gas-fired plants fell following the expiration of supply contracts with Meralco.
The diversification of First Gen’s portfolio has proven crucial. By spreading exposure across gas, hydro, and geothermal assets, the company has managed to cushion the impact of fluctuating fuel prices. Analysts say this model will be key for energy firms navigating the transition toward cleaner sources.
For households, First Gen’s stability helps ensure consistent power supply at a time when fuel imports remain expensive. The company’s growing LNG capacity could also support national energy security by reducing dependence on coal.