- 48 shareholders representing 88% of voting rights attended PPC’s AGM on May 24, 2023.
- Shareholders approved 2023 guidance for sales volume of 3.5 billion kWh (+23% YoY), representing 113% of our full-year forecast despite Pha Lai 2’s S6 generator targeted to reoperate in early September 2023 (vs our expectation of mid-2023). We attribute the YoY increase to significantly higher sales volume from Pha Lai 2 (guided to be 3.04 billion kWh; +58% YoY), which is mainly due to its S5 generator operating more efficiently, according to EVNGENCO2’s chairman. This outweighs lower sales volume from Pha Lai 1 (guided to be 0.5 billion kWh; -48% YoY) due to technical issues affecting the availability factor of its generators.