First Gen Integrated Report 2022
  • Home
  • About the Report
    • About the Report
    • Certification from the Board
    • Disclaimer on Forward-Looking Statements
    • 2022 at a Glance
    • 2022 Key Milestones
  • Our Business
    • Who We Are
    • What We Do
    • Organizational Structure
  • Messages
    • Chairman's Message
    • President's Message
  • Our Operating Context
    • The External Environment
    • Our Material Topics, Standards, and References
    • Managing Material Risks and Opportunities
    • Acting on Major Disruptions
  • Our Value Creation Story
    • Strategic Positioning
    • First Gen Business Model
    • Progress on our Mission
    • Delivering on our Strategy
      • Financial Capital
      • Manufactured Capital
      • Human Capital
      • Social & Relationship Capital
      • Intellectual Capital
      • Natural Capital
    • Our Value Creation Diagram
    • Our ESG Values
    • First Gen’s Value Created in Support
      of the Sustainable Development Goals
  • Our Outlook
  • Our Governance
    • Corporate Governance
    • Corporate Policies
    • Board of Directors
    • Senior Management
  • Additional Information
    • 2022 Awards
    • UA&P Third Party Review Statement
    • Content Index
  • Home
  • About the
    Report
    • About the Report
    • Certification from the Board
    • Disclaimer on Forward-Looking Statements
    • 2022 at a Glance
    • 2022 Key Milestones
  • Our
    Business
    • Who We Are
    • What We Do
    • Organizational Structure
  • Messages
    • Chairman's Message
    • President's Message
  • Our Operating
    Context
    • The External Environment
    • Our Material Topics, Standards, and References
    • Managing Material Risks and Opportunities
    • Acting on Major Disruptions
  • Our Value
    Creation Story
    • Strategic Positioning
    • First Gen Business Model
    • Progress on our Mission
    • Delivering on our Strategy
      • Financial Capital
      • Manufactured Capital
      • Human Capital
      • Social & Relationship Capital
      • Intellectual Capital
      • Natural Capital
    • Our Value Creation Diagram
    • Our ESG Values
    • First Gen’s Value Created in
      Support of the Sustainable
      Development Goals
  • Our Outlook
  • Our
    Governance
    • Corporate Governance
    • Corporate Policies
    • Board of Directors
    • Senior Management
  • Additional
    Information
    • 2022 Awards
    • UA&P Third Party Review Statement
    • Content Index

What We Do

First Gen is a player in the energy industry with 31 operating power plants strategically positioned in each of the three major island grids in the Philippines. The Company is one of the biggest Independent Power Producers (IPP) in the nation with a total installed capacity of 3,501.4 megawatts (MW).

First Philippine Holdings Corporation (FPH), one of the largest and oldest conglomerates in the Philippines, is the majority shareholder of First Gen. FPH has significant investments in power generation, real estate, manufacturing, construction, and engineering.

First Gen’s power facilities produce electricity using a variety of fuels and renewable resources, including natural gas, geothermal steam, hydroelectricity, wind, and solar energy. The electricity generated is primarily sold to privately-owned distribution utilities (DU) such as Meralco, National Power Corporation (NPC), electric cooperatives, large commercial and industrial clients through its Retail Electricity Suppliers (RES), the National Grid Corporation of the Philippines (NGCP), under long-term Power Purchase Agreements (PPAs), Power Supply Agreements (PSAs), Power Supply Contracts (PSCs), Feed-In Tariff (FiT), Ancillary Service Procurement Agreements (ASPA), and the Wholesale Electricity Spot Market (WESM). Thereafter, distribution services and transmission lines deliver the electricity to customers.

First Gen's Energy Value Chain

Refer to the Business Model section for more details on the Value Chain.

First Gen Total Power Generated (GWh)

Portfolio of Assets

The Philippine Power Industry in Numbers

Currently, First Gen exclusively serves the Philippine market. There are 357 power stations in the nation as of November 2022, totaling 28,358 MW of generating capacity. As of 31 December 2022, there are 119 retail power suppliers and 3,089 customers in the Luzon and Visayas region who are eligible for contestability. We present the important details of the Philippine Power Industry to put First Gen’s national contribution and the available opportunities into Context.

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Corporate Office

First Gen Corporation
6th Floor Rockwell Business
Center Tower 3, Ortigas Avenue,
Pasig City, Philippines 1604
Tel No.: (632) 3449-6400
Fax No.: (632) 8635-2322
www.firstgen.com.ph

Independent Public Accountants

Sycip Gorres Velayo & Co.
(SGV & CO.) SGV Building,
6760 Ayala Avenue, Makati City,
Philippines 1226
Tel No: (632) 8891-0307

Stock Transfer Agent

BDO Unibank Inc.
TIG-Securities Services
15th Floor, South Tower,
BDO Corporate Center,
7899 Makati Avenue,
Makati City 0726
Tel Nos.: (632) 8840-7000,
8878-4053, 8878-4961

2022

All rights reserved.

First Gen Corporation