Mr. Thanawat Trivisvavet, Managing Director, CK Power Public Company Limited or CKPower (SET: CKP), one of the region's largest producers of electricity from renewables with commitment to achieve the lowest carbon footprint, revealed the operating results for Q1/2023, in which CKPower and its subsidiaries reported Baht 2,686 million of revenue, representing a Baht 143 million or 5.6% year-on-year increase compared to the Baht 2,543 million of the same period last year.
Positive factors for the Q1 revenue were a Baht 161 million or 9.8% YoY boost in the revenue from sales of electricity and steam of Bangpa-in Cogeneration Power Plant due to a surge in global gas prices, coupled with the raising of retail Ft rate by the government. Conversely, the revenue from sales of electricity of Nam Ngum 2 Hydroelectric Power Plant (NN2) showed a slight decline compared to the previous year due to a lower water level in the reservoir at the beginning of the year compared to the previous year and the lower inflow volume in Q1. In response, CKPower declared its electricity production with conservative approach to ensure an adequate water supply for the production in the first half of 2023, which coincides with the dry season.
