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PLN realized investment in 2018 reaches Rp98.4 trillion

JAKARTA (RambuEnergy.com) – State-run utility company PT Perusahaan Listrik Negara (PLN) recorded investment of Rp98.4 trillion (approximately US$7.035 billion) in 2018, representing 80% of the total target of Rp123 trillion.

President Director of PLN Sofyan Basir said early this week that the lower-than-plan investment was due to slower-than-expected electricity demand on the back of below national economic growth target.

“The growth of electricity depends on the demand. If the demand is lower than the investment to build power transmission is also lower than planned. Thus, there is adjustment and efficiency,” Basir said.

As for this yer, PLN sets aside Rp99 trillion for investment, with an expected realized investment of Rp80 trillion. The bulk of the investment will be used to develop transmissions. It will not allocate a significant amount of funds to build power plants as most of the investment in power plants is done by the private sector.

In a related development, PLN said the new electricity subscribers recorded growth of 5.65% in 2018 or 3.83 million new subscribers, with total customers of 71 million. The growth was lower than in the previous year of 5,89%.

The company continued its efforts to increase the country’s electricity ratio. It targets to reach 99.9% in electricity ratio this year. (*)

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