Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript - Thomson StreetEvents

Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript

Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript - Thomson StreetEvents
Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript
Published Feb 19, 2021
8 pages (3890 words) — Published Feb 19, 2021
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Abstract:

Edited Transcript of 015760.KS earnings conference call or presentation 19-Feb-21 6:00am GMT

  
Brief Excerpt:

...Operator (foreign language) Good afternoon. First of all, thank you all for joining this conference call. Now we will begin the conference of the Fiscal Year of 2020 Annual Earnings Results by KEPCO. (Operator Instructions) Now we shall commence the presentation on the Fiscal Year of 2020 Annual Earnings Results by KEPCO. Unidentified Company Representative (foreign language) Good afternoon, this is [Tristan], IR Head of KEPCO. On behalf of KEPCO, I would like to thank you all for participating in today's conference call to announce the earnings results for the fiscal year of 2020. Today's call will be proceeded in both Korean and English. We will begin with a brief presentation on the earnings results, which will be followed by the Q&A session. Please note that the financial information to be disclosed today is on a preliminary (inaudible) and consolidated basis income in the (inaudible) Any comparison will be on a year-on-year basis between last year and this year. Business strategies,...

  
Report Type:

Transcript

Source:
Company:
Ticker
015760.KS
Time
6:00am GMT
Format:
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Minjae Lee - NH Investment & Securities Co., Ltd., Research Division - Analyst : [Interpreted] I have about 3 questions. First, could you share with us some updates on your offshore wind business -- wind power business? Second is on the issue of network neutrality. We hear that there has been some forum or discussion between the relevant stakeholders on network neutrality. And when we look at the relevant association that gathered in the forum, it seems that there was a different representative for KEPCO and GENCO as well. So does GENCO and KEPCO share the same objective? That's my second question. And third question is from , will you have the same identical of base fuel cost for 2022 of -- versus December of 2020 to November of 2021? Or will there be any incremental increase. Yoonhye Cho [Interpreted] To answer your first question, currently, the offshore wind power project that KEPCO is involved in is the Southwest Wind power project as well as Jeju Hanlim wind power project. And we're participating in form of SPC. Currently, the National Assembly has a pending bill on the house to revise the relevant regulations and rules to allow KEPCO to directly get involved into this offshore wind power plant. And also on your question regarding network neutrality regard -- and especially regarding the renewable energy and the overall power plant. It is external -- it is disclosed to external parties in a transparent manner. When you refer -- look at our T&D planning as well as the overall system equipment planning and facilities planning, it is all going to go through the approval of the Power Approval Committee, which will be transparently disclosed and shared with the public. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 19, 2021 / 6:00AM, 015760.KS - Q4 2020 Korea Electric Power Corp Earnings Call (English, Korean) On your question on the base tariff. The tax will be recalculated and reassessed when there is a new amended and changed power tariff on the table. Without any changes into the tariff, current tariff system, the base rate will be the same as what is in place now.


Question: Kyung-Won Moon - Meritz Securities Co., Ltd., Research Division - Analyst : [Interpreted] First of all, congratulations on your performance that delivered higher than market expectation. I have about 3 questions. First question is on the coal utilization. On a monthly basis, the utilization has gone up, starting from October, November and December. But as far as I know, starting from December, we have certain cap or limitation on the fine dust particle matter control. So how do you explain the fact that the coal utilization still increase in the month of December anyway? And second question is on the revised bill on the National Assembly for the power business. Personally, I would like to see the bill passed through and be applied. However, if the bill is not passed, what will be the impact on the renewable energy project that you're pursuing? What will be the difference between having a separate entity for renewable businesses versus working through SPC? What will be the impact on the overall funding cost and the magnitude of the funding that you can actually source from the market? Third question is on the T&D CapEx. I mean, we have seen the wide -- broad range of blackout in Texas. But as we see more renewable energy in the market, we need to also see increased CapEx for the T&D infrastructure. But we don't see that abreast of investment that has been happening. Will there be additional investment in such regard? Even if it's not on a quantitative number, can you share at least on a qualitative way -- level at how you're going to push this issue? Yoonhye Cho [Interpreted] To answer your first question, we have seen, of course, the control over the particulate matter issues starting in December and need to control the PM level accordingly. But the utilization of fire -- coal-fired power plant depends on various factors, such as demand as well as the planned stoppage and maintenance of other generations and also the fuel unit cost as well. So the system -- the PM regulation alone does not affect the utilization as a whole. So we have to consider various factors. And as accordingly, we have seen a slight increase in utilization. Currently, it is very difficult for us to forecast into what will be the impact of bill not being passed by the National Assembly. But what we can, however, anticipate is that in terms of fund sourcing, the direct investment, which is through a separate entity, will have -- will allow us to have more funding compared to SPC as well as more feasibilities and the ease of doing business if we go direct. If you look at our T&D CapEx, it was KRW 6.2 trillion in 2020 and KRW 6.4 trillion in 2021. And we expect to have T&D CapEx of KRW 7 trillion in 2022. Such CapEx planning is to maintain current power quality that we're providing to the market at the moment as well as not to be disturbed or not to have supply discontinuity in the market. And it also considers renewable infrastructure as well. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 19, 2021 / 6:00AM, 015760.KS - Q4 2020 Korea Electric Power Corp Earnings Call (English, Korean)

Table Of Contents

Korea Electric Power Corp Q1 2022 Earnings Call (English, Korean) Transcript – 2022-05-13 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 13-May-22 5:00am GMT

Korea Electric Power Corp Q4 2021 Earnings Call (English, Korean) Transcript – 2022-02-24 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 24-Feb-22 7:00am GMT

Korea Electric Power Corp Q3 2021 Earnings Call (English, Korean) Transcript – 2021-11-12 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 12-Nov-21 5:00am GMT

Korea Electric Power Corp Q2 2021 Earnings Call (English, Korean) Transcript – 2021-08-13 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 13-Aug-21 5:00am GMT

Korea Electric Power Corp Q1 2021 Earnings Call (English, Korean) Transcript – 2021-05-14 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 14-May-21 1:30am GMT

Korea Electric Power Corp Q3 2020 Earnings Call (English, Korean) Transcript – 2020-11-12 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 12-Nov-20 7:00am GMT

Korea Electric Power Corp Q2 2020 Earnings Call (English, Korean) Transcript – 2020-08-13 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 13-Aug-20 7:00am GMT

Korea Electric Power Corp Q1 2020 Earnings Call (English, Korean) Transcript – 2020-05-15 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 15-May-20 5:00am GMT

Korea Electric Power Corp Q3 2019 Earnings Call (English, Korean) Transcript – 2019-11-13 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 13-Nov-19 7:00am GMT

Korea Electric Power Corp Q2 2019 Earnings Call (English, Korean) Transcript – 2019-08-14 – US$ 54.00 – Edited Transcript of 015760.KS earnings conference call or presentation 14-Aug-19 8:00am GMT

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MLA:
Thomson StreetEvents. "Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript" Feb 19, 2021. Alacra Store. Mar 28, 2024. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2020-Korea-Electric-Power-Corp-Earnings-Call-English-Korean-T13642379>
  
APA:
Thomson StreetEvents. (2021). Korea Electric Power Corp Q4 2020 Earnings Call (English, Korean) Transcript Feb 19, 2021. New York, NY: Alacra Store. Retrieved Mar 28, 2024 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2020-Korea-Electric-Power-Corp-Earnings-Call-English-Korean-T13642379>
  
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