GPSC reported net profit of THB 5,130 million for the first nine months of 2026, up 5% year on year. Growth was supported by expanding industrial demand, gains from its investment portfolio and lower financing costs. The company continues to manage costs and its asset portfolio to strengthen competitiveness amid volatile energy prices, and to build investment opportunities under the new PDP.

Mr. Cherdchai Boonchuchauy, Chief Executive Officer of Global Power Synergy Public Company Limited (GPSC), the innovative power flagship of PTT Group, said that net profit for the first nine months of 2026 was THB 5,130 million, a 5% increase from the same period last year. The results were driven by higher water inflows at the Xayaburi Power Plant (XPCL) and higher turbine availability at the Changfang and Xidao offshore wind project in Taiwan (CFXD). Lower financing costs and a THB 222 million gain on the divestment of its investment in Sheng Yang Energy Company Limited (SYE), a solar power operator in Taiwan, also contributed. In addition, demand from industrial customers remained strong, the Huay Ho Hydropower Plant (HHPC) sold more electricity, and the Gheco-1 power plant recorded a smaller loss on coal inventory. These factors supported profit growth, despite pressure on the Small Power Producer (SPP) business from higher natural gas costs and lower electricity tariffs compared with the same period last year.

For the third quarter of 2026, GPSC reported net profit of THB 1,592 million. Results were supported by the gain on the divestment of its investment in SYE, revenue from the sale of reserve assets, lower maintenance expenses, and a higher share of profit from XPCL on increased water inflows. These factors helped offset pressure from natural gas costs rising faster than the Ft (fuel tariff) adjustment, as well as lower electricity dispatch in line with the production plan and seasonal effects on the renewable energy business. Net profit decreased 12% from the previous quarter.

Mr. Cherdchai added: “Our results for the first nine months reflect the strength of our diversified business portfolio, together with disciplined management of financing costs and asset value enhancement. Although higher natural gas costs affect profit margins in the short term, we are confident that we can maintain our performance. We will focus on improving production efficiency and managing fuel costs, while delivering power and steam to customers reliably and stably. We are also preparing our investment projects and business partnerships to seize opportunities under the country’s new Power Development Plan (PDP), across both renewable energy and power plants that strengthen the stability of the power system, for sustainable growth.”

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