Your revenue line is correct ilyas. However the margin is way off. This plant is running on LNG sourced in open markets and this will be a considerable cost of the $0.11/kwh. Sengkeng runs on gas that is far cheaper as it has not had to be liquefied, stored, shipped, stored and regassed. The plant will also operate open cycle further diminishing returns.
Plough's calculations are the correct method for calculating top line. I also believe they will probably achieve a higher merchant market price.
I saw one post stating that this is a take or pay agreement. This is not the case, this is a merchant market power plant and revenue is only paid for energy dispatched.
Ann: PHP6.75B Facility for 650MW LNG Fired Pagbilao Power Plant, page-20
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