CONSUNJI-LED Semirara Mining and Power Corp. (SMPC) reported a 17% increase in second-quarter (Q2) net income to P4.8 billion, as stronger earnings from its power business offset weaker contributions from coal operations. The power business accounted for 96%, or P4.6 billion, of second-quarter earnings, supported by improved plant availability, record power generation, and higher electricity prices. The average electricity selling price climbed 29% to P5.81 per kilowatt-hour (kWh) from P4.51 per kWh a year earlier. The average selling price of Semirara coal increased 27% to P2,833 per metric ton, supported by stronger global coal benchmark prices. For the first half, SMPC posted a 2% increase in net income to P8.58 billion, while revenue rose 9% to P34.02 billion as higher coal and electricity prices more than offset lower coal shipments and power sales volumes.