MEA expects higher revenue but lower earnings

The MEA generated revenue of Bt69.7 billion in the first half, while net profit stood at Bt3.6 billion, up from Bt3.1 billion in the same period last year.

Despite the projected profit fall, the MEA is still committed to contributing 45 per cent of net earnings to its 100-per-cent shareholder, the Finance Ministry.

The state enterprise estimates that demand in its Bangkok coverage area this year will drop 4 per cent to 40.5 billion units, MEA governor Pornthape Thunyapongchai said yesterday.

He said demand from manufacturers and other businesses in its area had dropped in line with the fall in the domestic economy. In the first half, the MEA sold 20.3 billion units of electricity, a 5-per-cent decline year on year.

Pornthape said the state enterprise would seek more revenue from related businesses, including electricity-system provision and management service for the business and industrial sectors, a fibre-optic network-based communications service, and the provision of consultancy services to international customers.

Pornthape said the MEA had set aside an investment budget of Bt30 billion for the period until the end of 2011.

Most of the spending will be on the improvement and expansion of the electricity transmission system, the migration of electricity wires underground, and on the plan to maintain service quality.