First Gen’s power generation facilities produce electricity using a combination of traditional and renewable resources such as natural gas, geothermal steam, hydroelectricity, wind, and solar energy. The generated power is primarily sold to privately owned distribution utilities (DU), the National Power Corporation (NPC), local electric cooperatives, large commercial and industrial clients through its licensed Retail Electricity Suppliers (RES) and Renewable Energy Suppliers, and the National Grid Corporation of the Philippines (NGCP). These are sold under long-term Power Purchase Agreements (PPAs), Power Supply Agreements (PSAs), Retail Supply Contracts (RSCs), Feed-In Tariff (FiT), Ancillary Service Procurement Agreements (ASPA), and in the Wholesale Electricity Spot Market (WESM). After these sales, the associated distribution services and transmission lines deliver electricity to customers.
First Gen’s Energy Value Chain
Refer to the Business Model section for more details on the Value Chain.
FIRST GEN INSTALLED CAPACITY PER ISLAND GROUP
(as of December 31, 2023)
TOTAL INSTALLED CAPACITY SHARE OF FIRST GEN VS. TOTAL INSTALLED CAPACITY OF THE PHILIPPINES
(as of November 30, 2023)
*Source: DEPARTMENT OF ENERGY LIST OF EXISTING POWER PLANTS
FIRST GEN TOTAL POWER GENERATED (GWH)
(as of December, 2023)
The 2021 and 2022 figures have been adjusted. Please refer to the Restatements section for the summary of changes.
The Philippine Power Industry in Numbers
Currently, First Gen exclusively serves the Philippine market. There are 357 power stations in the nation as of November 2023, totaling 28,359MW of generating capacity. As of 31 July 2023, there are 119 retail power suppliers and 3,227 customers in the Luzon and Visayas regions who are eligible for contestability. We present the important details of the Philippine Power Industry to put First Gen ’s national contribution and the available opportunities into context.
TOTAL POWER PLANTS IN THE PHILIPPINES
(as of November 2023)
TOTAL GROSS ELECTRICITY GENERATION IN THE PHILIPPINES
(January to December 2023)
NO. OF CONTESTABLE
CUSTOMERS BY PHASE
(as of July 31, 2023)
NO. OF RETAIL ELECTRICITY
SUPPLIERS BY SEGMENT
(as of July 31, 2023)
