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CEM profit rise 6.3 pct to 793 million patacas in 2017

Macau’s electricity utility CEM announced Wednesday a net profit of 793 million patacas for last year, a year-on-year increase of 6.3 percent.

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UPDATED: 22 Dec 2023, 5:50 am

 

Macau’s electricity utility CEM announced Wednesday a net profit of 793 million patacas for last year, a year-on-year increase of 6.3 percent.

According to a statement issued after yesterday’s annual general meeting of the company, the city’s total electricity consumption reached 5,377 GWh last year, up 2.3 percent year on year.

The statement pointed out that the local electricity generation cost was “still more competitive than that of electricity imported from the mainland,” adding that local power generation rose 60 percent to 1,260 GWh, accounting for 23.4 percent of the total power consumption in Macau. Electricity imported from the mainland dropped 8.2 percent to 3,952 GWh, taking up 73.5 percent of Macau’s total power consumption, while the remaining 3.1 percent was acquired from the waste incineration plant in Taipa.

According to The Macau Post Daily the government concessionaire’s general meeting was chaired by Pansy Ho Chiu King who thanked CEM’s employees for having restored “in the shorted possible time” the city’s power supply after Super Typhoon Hato and a storm surge had caused havoc in August last year.

UPDATED: 22 Dec 2023, 5:50 am

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