Huaneng Power International (HKG:0902, SHA:600011) said electricity sold by its mainland power plants totaled 125.8 billion kWh in the third quarter, down 3.7% from a year earlier, according to a Wednesday Hong Kong bourse filing.

Hong Kong-listed shares of the firm were up nearly 2% in Thursday's late morning trade.

For the first nine months of 2025, total electricity sales reached 331.5 billion kWh, a 2.9% decline year on year. The average settlement tariff fell 3.5% to 478.71 yuan per MWh.

Huaneng attributed the drop mainly to weaker power demand and increased renewable capacity, which reduced coal-fired generation despite continued growth in wind and solar output.

In Singapore, Huaneng's wholly owned unit Tuas Power accounted for 17.8% of the market's power generation in the third quarter, down 0.8 percentage points from a year earlier.

For the first three quarters, Tuas Power's share stood at 18.3%, a decrease of 1.3 percentage points year on year.