CKP’s 2Q Profit Rises 26% due to an Increase in Revenue from Sales of Electricity

CK Power Public Company Limited  (CKP) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

CKP has reported its 2Q2019 profit of THB 83.73 million or 26.5%YoY and 17.5 QoQ. In the 2 nd quarter of 2019, revenue from sales of electricity and steam increased from the same period last year, mainly due to the following reasons:

NN2: An increase in revenue from sales of electricity of NN2 came mainly from an increase in electricity sales volume in the 2nd quarter of 2019 YoY and electricity tariff increased by approximately 7.8% according to the Power Purchase Agreement (PPA) with Electricity Generating Authority of Thailand (EGAT).
This new tariff will be applied from 2019 until the end of the PPA. 

BIC: despite the decrease in electricity sales volume due to the planned major overhaul, revenue from sales of Electricity of BIC was in line with the same period last year, helped by the higher natural gas price in the 2nd quarter of 2019 compared to the same period last year, resulted in an increase in Energy Payment revenue, a core component of BIC’s electricity tariff. 

BKC: an increase in revenue from sales of electricity of BKC was driven by the start of commercial operations of the new solar rooftop power plants under BKC, namely Banglen Solar, Phutthamonthon Sai 5 Solar and Mahachai Solar, resulted in an increase in electricity sales volume.