Vivant Corp. delivered a strong performance from January to September this year, ending the period with a 24-percent hike in core net income to P2 billion driven by its energy business.
Vivant has major investments in the water and energy industries. It reported Thursday that the power generation business ended the period with a net income contribution of to P1.7 billion which represents 63 percent of total net income from the strategic business units, as four of Vivant’s conventional plants saw reserve market (RM) nominations increase by 192 percent. Its unit 1590 Energy Corp. (1590 EC) has the highest volume of RM nominations at 865 gigawatt hours (GWh).
Vivant Energy Corp. (Vivant Energy) increased its total attributable power generation capacity to 471 megawatts (MW) with the acquisition of the 40-percent stake in Samal Solar Renewable Energy Corp. (SSREC), developer and operator of a planned 53.14 -MW solar plant in the province of Bataan.
Net income contribution from 35 percent-owned distribution utility (DU) Visayan Electric Co. (VECO) totaled P879 million, higher than P871 million earnings in 2024 as sales volumes across customer classes grew year-on-year (YOY). ‘Vivant continued to show strong results despite the slower than expected GDP growth in the first nine months of the year. I am proud of the resilience of our teams as we navigated market challenges and saw positive results from our power generation, energy distribution, and wastewater treatment operations.’ said Arlo G. Sarmiento, Vivant CEO.
Vivant’s portfolio of conventional plants delivered a total of 3,211 GWh. Of which, on-grid volumes totaled 3,015 GWh while off-grid assets sold 196 GWh of energy to its customers.
Overall energy volumes sold saw a 15-percent decline during the period. Nonetheless, the net income contribution of the power generation business grew by 12 percent to P1.7 million driven by trading gains from the participation of certain plants in the RM and Wholesale Electricity Spot Market (WESM), as well as revenue from Ancillary Services Procurement Agreement (ASPA) contracts.
Meanwhile, North Bukidnon Power Corp. (NBPC) and Cebu Energy Development Corp. (CEDC) recorded the highest YOY increase in spot market energy sales at 102 percent and 36 percent, respectively. Total volume sold through ASPA contracts was also 9 percent higher due to the energy dispatched by Therma Visayas, Inc. (TVI) and Meridian Power Inc. (MPI).
Net income contribution from VECO was at P879 million slightly up from P871 million the prior year, driven by the three-percent growth in DU sales volumes. Residential customers recorded the highest increase in volume sold at four percent, followed by industrial at three percent and commercial at two percent.
Vivant’s water business recorded a P184-million income contribution in compared with the P11 million loss recorded in the same period the prior year. In June 2025, the company began recognition of finance income from the concession of 100 percent-owned Isla Mactan Cordova Corp. (IMCC) as a result of the signed 25-year joint venture agreement between VHHI and Metropolitan Cebu Water District (MWCD) to supply Metro Cebu with water clean and potable water.