ACEN sees ‘silver lining’ in excess RE supply

ACEN CORP. said it sees a “silver lining” in having excess power to sell to customers, as energy market volatility linked to the Middle East conflict creates opportunities for renewable energy (RE) providers, its chief executive said.

“The silver lining is we have excess power to sell to customers. So, this is a good time to offer our renewable energy product to customers because we do have inventory,” ACEN President and Chief Executive Officer Eric T. Francia told reporters on the sidelines of the 2026 Philippine Energy Forum on Wednesday.

He said the company expects its overall financial performance this year to improve from last year. “What I can say is this year, of course, is expected to be stronger than last year from an overall financial performance perspective.”

He added that the company is looking to boost renewable energy output through the restoration of damaged wind farms in Ilocos Norte, as well as the continued contribution of large power plants that began operations last year.

ACEN operates in several markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

Amid risks linked to the Middle East conflict, Mr. Francia said the company’s operations outside the Philippines and Australia have seen minimal impact on existing power plants.

“It’s not that impacted because we don’t rely on fuel and the tariff is fixed,” he said.

Global markets, particularly those reliant on imported oil, continue to face volatility in supply and prices amid disruptions in the Middle East.

Mr. Francia said the situation highlights the need to invest in indigenous energy sources such as renewable energy and energy storage to reduce dependence on fossil fuels.

At the same time, he said rising inflation and interest rates linked to the conflict may temper investment and spending decisions.

“You have to consider that there will be some cost pressure on renewables as well because of supply chain issues, delay issues, cost of capital increase and so forth,” Mr. Francia said.

In 2025, ACEN’s net income fell 60% to P3.8 billion due to lower spot market prices and operational challenges.

Revenues declined by 14% to P32 billion, reflecting lower spot market prices and reduced power generation in its core markets. — Sheldeen Joy Talavera