World

S. Korea's state power utility posts record operating loss in 2022

SEOUL
2023-02-24 14:29

Already collect



SEOUL, Feb. 24 (Xinhua) -- South Korea's state-run power utility Korea Electric Power Corp. (KEPCO) posted a record-high operating loss last year on higher fuel costs, the company said Friday.

Operating loss reached 32.6 trillion won (25 billion U.S. dollars) in 2022, surpassing the previous high of 5.85 trillion won (4.5 billion dollars) tallied in 2021.

The power plant operator's revenue gained 17.5 percent over the year to 71.27 trillion won (54.7 billion dollars) last year due to higher electricity charges.

Operating cost surged 56.2 percent on the rise in fuel expenses, which jumped 77.9 percent last year.

The KEPCO said the record loss stemmed from higher electricity demand and price hikes for fuel such as liquefied natural gas and coal.
Add comments

Latest comments

Latest News
News Most Viewed