OREANDA-NEWS. Electric Power Development Co., Ltd. (“J-POWER”) announces financial results for fiscal year.

In the wholesale electric power business, electricity sales volume from hydroelectric power plants for the current fiscal year decreased 12.5% from the previous fiscal year to 9 TWh. This was mainly due to a decrease in the water supply rate from 115% in the previous fiscal year to 102%. In thermal power sales, the load factor of thermal power plants from77% to 78% resulted in 1.1% increase in electricity sales volume from the previous fiscal year to 54.3TWh. As a result, total electricity sales volume for both hydroelectric and thermal power combined was 63.3TWh.

Electricity sales volume in the other electric power businesses increased 11.4% from the previous fiscal year to 2.2TWh, due to a higher load factor of IPPs and power plants for PPSs (Power Producers and Suppliers) etc. As a result, electricity sales volume in the electric power business as a whole was 65.6TWh.

As for hydroelectric power business, a decrease in water supply rate resulted in a decrease in revenues from the previous fiscal year. Although the thermal power plant load factor increased, revenues from thermal power decreased due mainly to a decrease in fuel prices. Revenues in the other electric power businesses increased due mainly to a higher load factor of IPPs and power plants for PPSs (Power Producers and Suppliers) etc. Sales (operating revenues) including revenues from other business increased 0.2% from the previous fiscal year to 656.0billion yen. Furthermore, ordinary income including non-operating revenues also increased 0.5% to 673.6 billion yen from the previous fiscal year.

For expenditures, operating expenses decreased 0.5% from the previous fiscal year to 601.4billionyen, due to a decrease in depreciation in the electric power business owing to progress in depreciation, and ordinary expenses including non-operating expenses decreased 0.7% from the previous fiscal year to 628.8 billion yen.

As a result, ordinary income increased 22.4% from the previous fiscal yearto 44.8 billion yen and net income after corporate tax increased 85.0% from the previous fiscal year to 29.8 billion yen. Results for the reporting segments for the current fiscal year follow.