POWER producer Aboitiz Power Corp. (AboitizPower) reported a 31% increase in its second-quarter (Q2) net income, driven by stronger electricity prices, higher generation from its hydropower facilities, and contributions from newly commissioned solar plants. In a disclosure to the stock exchange on Wednesday, AboitizPower said its net income for the April-to-June period rose to P10.5 billion from P7.9 billion a year earlier. The company attributed the increase to higher margins in its generation business, supported by stronger Wholesale Electricity Spot Market (WESM) prices, higher generation from the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex, and the energization of three solar farms. For the first six months of the year, AboitizPower’s net income increased by 45% to P18.4 billion from P12.7 billion in the same period last year. Core net income rose by 41% to P18 billion from P12.8 billion a year earlier.