CK Power reports Q2 profit of 210 million baht and first-half profit of 326 million baht, while preparing for the El Niño situation in the second half of the year by developing a water monitoring and forecasting system to improve the efficiency and accuracy of electricity generation at the company's hydropower plants. Meanwhile, the Luang Prabang hydropower project is progressing according to plan.
Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited (CKP), disclosed the operating results of the company and its subsidiaries for Q2 and the first half of 2026, stating that CKP recorded net profit from operations in Q2 and the six-month period of 2026 of 210 million baht and 326 million baht, respectively, declining 40% and 22% from the same period of the previous year. The main reasons were lower electricity sales revenue from Bangpa-in Cogeneration Co., Ltd. (BIC) and Nam Ngum 2 Power Company Limited (NN2), in line with reduced electricity sales volumes, along with higher fuel costs at BIC in Q2.
Nevertheless, the company recognized its share of net profit from operations of XPCL in Q2 and the first half of the year at 318 million baht and 517 million baht, respectively, increases of 49% and 134% from the same period of the previous year, driven by higher water flow through the Xayaburi hydropower plant, which resulted in increased electricity sales volumes, combined with lower financial costs at XPCL from the gradual repayment of long-term loans and declining interest rates. The strong performance of XPCL served as a positive factor that helped mitigate the impact of weaker results from NN2 and BIC, and effectively supported CKP's overall operating performance.
Regarding the water situation as of the end of June 2026, the Nam Ngum 2 hydropower plant had a reservoir water level of 355 metres above mean sea level, close to the same period of the previous year despite lower inflow into the reservoir, while the average water flow through the Xayaburi hydropower plant remained 15% higher than the same period of the previous year. Weather forecast data indicates the possibility of an El Niño phenomenon occurring in the second half of 2026. The company has therefore prepared to handle the situation by developing a Hydrometeorological Monitoring and Forecasting System to improve the efficiency and accuracy of declaring electricity generation availability at the company's hydropower plants.
With regard to the Luang Prabang hydropower project, construction progress as of the end of June 2026 stood at 77%, in line with the planned schedule. Meanwhile, the Feed-in Tariff (FiT) renewable energy power generation project in the non-fuel-cost category under Bangkhenchai Co., Ltd. (BKC), which has signed a power purchase agreement with the Provincial Electricity Authority (PEA), has an installed capacity of 6 megawatts (MW). Construction has now commenced with a scheduled commercial operation date in 2027 under a 25-year contract.
As for the financial position as of 30 June 2026, the company had a current ratio of 2.49 times and a net interest-bearing debt to total equity ratio that remained at a low level of 0.52 times, reflecting sound liquidity management and the maintenance of an appropriate debt repayment capacity. At the same time, the trend of average interest rates being lower than the previous year is expected to help reduce XPCL's financial costs and serve as a supporting factor for operating performance in the second half of 2026. The company continues to monitor interest rate trends and manage its long-term debt structure on an ongoing basis.
"Amid volatility in energy and geopolitics, renewable energy continues to play a vital role in driving the transition to a low-carbon economy. CKPower will press ahead with increasing the proportion of renewable electricity generation capacity, alongside enhancing production efficiency, in pursuit of the goal of achieving net-zero greenhouse gas emissions by 2050," said Mr. Thanawat.
