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KEPCO expected to have posted record high profit in Q2

Collected: 2016.07.08

Distributed: 2016.07.11

Source: Go Direct

[Photo by KEPCO]

South Korea’s state-run utility firm Korea Electric Power Corporation (KEPCO) may have seen its best-ever quarter even as the April-June is usually a slump period thanks to productive product mix of nuclear and fossil fuel power stations.

According to Korea Investment & Securities Co., the utility firm is estimated to have posted 2.8 trillion won ($2.4 billion) in operating profit in the quarter than ended in June, higher than earlier estimate of 2.6 trillion won and up 34 percent from the same period last year. Sales likely have reached 14.56 trillion won.

The rebound in international oil prices has not hurt the company’s profit as it has been reducing reliance on power stations fueled by liquefied natural gas amid volatilities in international crude prices by upping power supply from nuclear and coal plants.

Power share from nuclear reactors has shot up to 38 percent, helping profitability of KEPCO, said Yoon Hee-do, an analyst of the securities firm.

The company’s operating profit hinges on the gap of the wholesale price of power purchased from private and subsidiary generators and retail price. The supply rate is estimated to have come down by 18 percent in the second quarter.

By Kim Je-lim

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