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PLN sees profit increase to $984m in 2022
State-owned electricity monopoly PT PLN saw its net profit rise to Rp 14.4 trillion (US$984 million) in 2022.
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Meter checking: Two employees of state-owned electricity company PLN check an electricity meter at a customer’s house
on Jl. Namburan Lor, in Panembahan subdistrict, Kraton district, Yogyakarta, on Sunday. People can apply for new electricity service at the PLN website, www.pln.co.id. (JP/R. Berto Wedhatama)
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tate-owned electricity monopoly PT PLN logged a Rp 14.4 trillion (US$984 million) net profit in 2022, marking an almost 10 percent year-on-year (yoy) increase from the previous year.
The figure exceeded the target set by the government for the financial year, which was set at Rp 6.4 trillion. PLN president director Darmawan Prasodjo attributed this gain to the “transformation” the company had embarked on.
“This achievement is not mere numbers. Behind it there is the hard work, dedication and loyalty of all PLN workers who led the transformation on the foundations of digitalization,” Darmawan said, according to a press statement released on Wednesday.
The statement elaborated that PLN had managed to raise electricity sales by 6.3 percent to 273.8 terawatt hour (TWh) from 257.6 TWh the year prior. This in turn lifted the income from electricity sales by 7.7 percent to Rp 311.1 trillion in 2022 from Rp 288.9 trillion in 2021.
According to its financial statement, PLN managed to round a total revenue of Rp 441 trillion throughout 2022, marking a 20 percent increase yoy in revenue.
Darmawan said PLN had made changes in the company’s business processes, which he said were “streamlined” and “unified” as opposed to “fragmented” as it was in its previous state.
This included the digitization of the generator, transmission, distribution, procurement, accounting and asset monitoring in PLN businesses.
