Davidi Vardi / Pikiwiki Israel / CC BY 2.5
ISRAEL. – OPC Energy reported third-quarter net income of $133 million, up from $67 million a year earlier, as stronger U.S. power margins, higher capacity prices and increased ownership in operating plants supported its results.
Net income attributable to shareholders was $100 million, compared with $52 million in the third quarter of 2025. Revenue rose to $575 million from $263 million. The comparison is affected by the first consolidation of Shore, Basin Ranch and Maryland during 2026, so it is not a like-for-like revenue measure.
In its third-quarter presentation, OPC reported adjusted net income of $126 million, up 121% from $57 million. EBITDA after proportionate consolidation increased 54% to $237 million from $154 million, while funds from operations, or FFO, rose 59% to $194 million from $122 million.
Adjusted net income, EBITDA after proportionate consolidation and FFO are company-defined non-IFRS measures. They supplement the reported results rather than replace net income calculated under international accounting standards.
OPC attributed the U.S. improvement to higher energy margins net of hedging, higher capacity prices in the PJM power market, and larger ownership interests in Shore and Maryland. The company also reported stronger energy margins in Israel.
The presentation set out an investment plan of approximately $13 billion across the U.S. and Israel, covering near-term projects totaling about 9 gigawatts of generation and 4 gigawatt-hours of battery storage on a 100% project basis. Those figures describe a plan, not money already spent or capacity already operating. Development, construction and financing milestones remain relevant to delivery.
The company’s financial report notes that its presentation currency changed from Israeli shekels to U.S. dollars on January 1, 2026, with comparative figures translated for consistency. The quarterly results therefore need to be read alongside both that currency change and the broader consolidation of its U.S. assets.
JBizNews Desk | Israel
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.
