Semirara Mining and Power Corporation (SMPC), a company listed on the Philippine Stock Exchange, announced that it made P4.8 billion in profits during the second quarter of 2026. This is 17% more than the P4.1 billion they earned during the same period last year, according to their disclosure to the Securities and Exchange Commission on August 5, 2026.
What Does SMPC Do?
Think of SMPC as a company that does two main things: they dig up coal from the ground (mining) and use that coal to make electricity (power generation). They’re the biggest coal mining company in the Philippines, and they’re special because they use their own coal to run their power plants – like growing your own vegetables to cook your own meals!
Why Did They Make More Money?
The company made more money mainly because their power business did really well. Their electricity-making part of the business earned P4.6 billion, which is 96% of all the money they made in the second quarter. Meanwhile, their coal mining business only contributed P191 million, or 4% of total earnings.
The Power Business Did Great
SMPC’s power plants sold more electricity than ever before – a record 1,563 gigawatt-hours (GWh) compared to 1,435 GWh last year. That’s a 9% increase. To understand this better, a gigawatt-hour is a huge amount of electricity – enough to power thousands of homes for hours.
They also sold their electricity at higher prices. The average price went up 29%, from P4.51 per kilowatt-hour to P5.81 per kilowatt-hour. About half of their electricity (53%) was sold in the spot market, where prices can change daily based on demand, while the other half (47%) was sold through fixed contracts with customers.
As of June 30, 2026, SMPC has 860 megawatts of dependable capacity (that’s how much electricity they can reliably produce), and 52% of this is already committed to contracts with buyers.
The Coal Business Had Challenges
Unlike the power business, the coal mining part had a tougher time. They dug up much less coal – only 2.5 million metric tons compared to 5.6 million metric tons last year. That’s a big drop of 55%!
The company explained this happened because they were doing “stripping activities” at a new area called the Narra block. Stripping means removing the layers of soil and rock above the coal before they can actually mine it – like peeling away layers to get to what you want underneath. They also had limited production at their Acacia mine.
Coal shipments also went down 13%, from 4.6 million metric tons to 4.0 million metric tons. However, they were able to sell their coal at better prices – P2,833 per metric ton compared to P2,223 per metric ton last year, a 27% increase, because coal prices worldwide were stronger.
First Half of 2026 Performance
For the entire first six months of 2026 (January to June), SMPC made P8.6 billion in total net income, which is slightly better (up 2%) compared to P8.4 billion during the same period in 2025. Again, the gains from their power business made up for the struggles in coal mining.
About the Company
SMPC operates through two power generation subsidiaries: Sem-Calaca Power Corporation (SCPC) and Southwest Luzon Power Generation Corporation (SLPGC). These companies supply electricity to the national grid, helping keep lights on across the Philippines. The company has 4,250,547,620 common shares outstanding and is headquartered at DMCI Plaza in Makati City.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
