{
    "success": true,
    "data": {
        "id": 1437794,
        "msgid": "pln-seeing-red-as-losses-increase-1447893297",
        "date": "1999-05-01 00:00:00",
        "title": "PLN seeing red as losses increase",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "PLN seeing red as losses increase JAKARTA (JP): State electricity company PT Perusahaan Listrik Negara (PLN) plunged deeper into the red in 1998 with a net loss of Rp 9.156 trillion (US$1.1 billion) from Rp 579.01 billion in the previous year. The company announced on Friday that total sales increased by 26 percent to Rp 13.7 trillion last year from Rp 10.8 trillion in 1997. However, the company's debt payment sharply increased to Rp 6.01 trillion last year from Rp 1.12 trillion in 1997.",
        "content": "<p>PLN seeing red as losses increase<\/p>\n<p>JAKARTA (JP): State electricity company PT Perusahaan Listrik<br>\nNegara (PLN) plunged deeper into the red in 1998 with a net loss<br>\nof Rp 9.156 trillion (US$1.1 billion) from Rp 579.01 billion in<br>\nthe previous year.<\/p>\n<p>The company announced on Friday that total sales increased by<br>\n26 percent to Rp 13.7 trillion last year from Rp 10.8 trillion in<br>\n1997.<\/p>\n<p>However, the company's debt payment sharply increased to Rp<br>\n6.01 trillion last year from Rp 1.12 trillion in 1997.<\/p>\n<p>The company's foreign exchange loss also rose to Rp 3.5<br>\ntrillion from 1.2 trillion in 1997, due to the sharp depreciation<br>\nof the rupiah against the U.S. dollar.<\/p>\n<p>PLN has been severely battered by the economic crisis, as most<br>\nof its costs, including fuel and power supplies from independent<br>\npower producers (IPPs), are in dollars, while electricity sales<br>\nare in rupiah.<\/p>\n<p>The company said the cost to buy fuel and natural gas amounted<br>\nto Rp 9.40 trillion last year, a 117 percent increase from Rp<br>\n4.33 trillion a year earlier. The cost of buying electricity from<br>\nIPPs rose to Rp 1.88 trillion from Rp 325.16 billion in the<br>\nprevious year<\/p>\n<p>The company said it received a government subsidy of Rp 1.9<br>\ntrillion last year.<\/p>\n<p>The company has refused to buy power supplies from IPPs in the<br>\ndollar as stipulated in the contract.<\/p>\n<p>PLN is trying to negotiate power purchase agreements (PPA)<br>\nwith 10 IPPs. The company has requested power prices be lowered<br>\nto about 4 U.S. cents, from between 6 cents and 8 cents under the<br>\ncontracts.<\/p>\n<p>Earlier, PLN president Adhi Satriya said the renegotiation may<br>\ntake between one year to two years to complete. (jsk)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/pln-seeing-red-as-losses-increase-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}