PLN EPI Prints IDR 1.45 Trillion Profit

PLN Energi Primary Indonesia (doc EPI)

JAKARTA - PLN Energi Primary Indonesia (EPI) recorded a growth in operating income of IDR 20.22 trillion in 2023 or grew by around 29.77 percent Year on Year (yoy) compared to the 2022 achievement of IDR 15.5 trillion.

The increase in operating income in 2023 is also accompanied by net profit growth. It was noted that PLN EPI recorded a net profit of Rp1.45 trillion, an increase of 65.37 percent yoy from the 2022 achievement of Rp878 billion.

This achievement also strengthens PLN EPI, as a subholding that contributes greatly to PLN's beyond kWh revenue of IDR 5.08 trillion.

President Director of PLN EPI Iwan Agung Firstantara said PLN EPI is the front line of PLN to ensure the reliability of primary energy supply for electricity. This can be seen from the maintenance of the average coal Operations Day (HOP) for 25 days; BBM 7.15 days; and the fulfillment of gas supply of 99.99 percent from confirmation of nominations.

Meanwhile, PLN EPI has created value creation for PLN Group in the form of electricity BPP efficiency of IDR 1.89 trillion, including efficiency in gas supply costs, biomass, coal and efficiency of administrative and general costs.

"In terms of efforts to maintain the reliability of the primary energy supply, PLN EPI has carried out a contract mechanism for providing coal with a multi-destination scheme so that there is supply flexibility for the PLTU PLN Group," he said.

Beyond kWh's revenue of IDR 5.08 trillion increased by 74 percent from 2022. In addition, PLN EPI also contributed 49.46 percent of PLN's beyond kWh revenue achievement and 1.01 million tons of biomass from PLN EPI helped PLN in reducing carbon emissions by 1.05 million tons of CO2.

PLN EPI has three main programs in accordance with RKAP 2023 to ensure the safety of primary energy supply for PLN power plants. First, establish long-term contracts with mining sources, and supplier partners and coal transportation companies.

"The program's plan was successfully explained through the realization of the PLN Group's coal supply volume in 2023 of 66.94 million MT," said Iwan.

Second, ensuring the supply of gas, LNG, and fuel for PLN needs. Iwan said that PLN EPI succeeded in providing pipeline gas and LNG for PLN plants of 393,062 BBTU or 99.99 percent of the confirmation of nominations. Meanwhile, for the guarantee of the provision of primary energy for fuel, PLN EPI managed to maintain an average HOP of 7.15 day supplies (6-9 day security numbers).

Third, ensure the supply chain model for biomass supply through the development of the upstream-hilir ecosystem.

"The volume of biomass supply is 1.01 million tons, reaching 108.60 percent of the target," concluded Iwan.