The significant increase in electricity sales due to the (activity of the) industrial (customer) group indicates that the economy is starting to recover in the midst of the (COVID-19) pandemic.
Jakarta (ANTARA) - State-run electricity provider PT PLN (Persero) recorded a net profit of Rp17.4 trillion (US$1.16 billion) in the first six months of 2022 despite the global economic uncertainty, the company’s president director, Darmawan Prasodjo, informed.

In a statement issued here on Friday, he said that the figure reflected an increase of 162.4 percent compared to the same period of 2021.

"It (the increase in profit) is the result of our various (working) strategies and transformations attempts," he added.

The financial information was based on the Consolidated Financial Statements of PLN in Semester I-2022 (unaudited), which was published on July 26, 2022.

In the period from January to June this year, PLN recorded an increase in electricity sales of 133.87 terawatt hours (TWh), up 125.49 TWh year on year (yoy).

According to the president director, the increase in sales was driven by the consumption of industrial customers, which grew 14.3 percent as of the end of June.

"The significant increase in electricity sales due to the (activity of the) industrial (customer) group indicates that the economy is starting to recover in the midst of the (COVID-19) pandemic,” he observed.

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Electricity sales reached Rp150.6 trillion (US$10.02 billion) in the first half of 2022, he informed. In addition, the corporation added 1.4 million customers until June.

"Currently, PLN is serving up to 83.9 million customers," Prasodjo said.

The sales growth reflects the success of the working programs carried out by the company, such as the acquisition of captive power, increase in renewable energy certification (REC), and conversion of liquefied petroleum gas (LPG) stoves to induction stoves, he added.

In addition, the company is intensifying the electrifying marine and agriculture program, which encourages marine and agriculture players to use electric-based equipment to boost productivity, reduce production costs, and increase the use of eco-friendly energy.

Furthermore, PLN’s earnings before interest, taxes, depreciation, and amortization (EBITDA) remained in the positive at Rp55.4 trillion (US$3.68 billion), while the EBITDA margin was recorded at 26.2 percent despite the rupiah’s slide against major foreign currencies, which affected the company's operating costs.

"Certainly, the achievement cannot be separated from the hard work of (all) PLN personnel as well as the support from the government, stakeholders, and all customers. We will continue to be committed to providing the best service to all Indonesian people," the president director remarked.

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Translator: Sugiharto Purnama, Uyu Liman
Editor: Suharto
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