KEPCO Expected to Shift to Profit in Q3

  • By Jo Jae-hee

    June 26, 2023 13:05

    Power monopoly KEPCO, which has been losing trillions, is projected to shift to profit in the third quarter this year thanks to an electricity price hike and a drop in international energy prices.
    According to financial information service FnGuide, brokerages forecast KEPCO's third-quarter operating profit at an average W1.68 trillion (US$1=W1,304).
    Chances of a profit have grown due to rising electricity consumption during the summer and a utility fee hike.
    The last time KEPCO posted a quarterly profit was in the first quarter of 2021.
    Brokerages estimate KEPCO's losses to have narrowed in the second quarter to an operating loss of around W1 trillion.
    The state-run power company will also still have more than W40 trillion in accumulated losses even if it shifts into the black.
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