KEPCO posted an operating profit of 4.1 trillion won last year thanks to the fall in oil prices.
On the 19th, KEPCO announced on the 19th that it posted consolidated sales of 5.8 trillion won, operating profit of 4.1 trillion won, and net profit of 2.94 trillion won last year. KEPCO, which incurred operating losses of 200 billion won and 1.3 trillion won in 2018 and 2019, respectively, turned to a surplus after three years.
KEPCO greatly benefited from the drop in international fuel prices last year in the aftermath of the spread of a novel coronavirus infection (Corona 19). Fuel costs for power generation subsidiaries and electricity purchase costs for private power generators have decreased by 6 trillion won from 36.5 trillion won last year to 30.5 trillion won last year. The fact that the utilization rate of nuclear power plants with low power generation costs rose by 4.7 percentage points from 70.6% in 2019 to 75.3% last year also affected. This is due to the operation of Shin-Kori Unit 4, etc.
KEPCO predicted that this year’s electricity demand will increase by 2% from last year. The projected fuel price per unit is 124,000 won per t for coal, 540,000 won per t for liquefied natural gas (LNG), and 690 won per liter for oil.
Reporter Jihoon Lee [email protected]
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