Power sales boost profit
The Municipal Electricity Department increased its power sales 6.98 per cent during the last financial year, its annual report showed yesterday. That rise, compared with 6.16 per cent the previous year, helped create a trading surplus for the year of
$2.7 million after all expenses were met, including running, loan servicing, and capital works costs. A mild winter, careful load management, and conversion from gas to electricity were factors in the surplus, said the report. The surplus, an over-all
profit of $7.1 million before expenses, “could be used as a buffer against any Government bulk tariff increase next year,” said the M.E.D.’s general manager, Mr J. H. Donald. Electricity sales decreased from 1978 to 1980, then started to rise again, the report said.
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Press, 29 June 1983, Page 5
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127Power sales boost profit Press, 29 June 1983, Page 5
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