Moving with the times

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PLN profit nosedives 63 percent as costs soar

first_imgAs a result, the company’s electricity sales reached 245.52 terawatt-hours in 2019, up 4.65 percent from the previous year.PLN’s statement added that the company increased its installed power generation capacity by 8 percent to 62,234 megawatts (MW) and its electric network by 11.5 percent to 59,817 circuit kilometers last year.However, analysts warn that at least two of PLN’s ongoing programs this year presented risks for the electricity company’s post-pandemic financial recovery.The first program is PLN’s free and discounted electricity scheme for 31 million of Indonesia’s poorest households. The three-month scheme was expected to cost Rp 3.5 trillion but the government recently announced it would be extended by another three months until September.Government representatives said the state would reimburse PLN but did not mention a timeline. The government still owes PLN Rp 48 trillion for subsidies incurred in 2018 and 2019, said a company executive.“[The profit recorded in 2019] does not close the possibility of PLN making a loss this year,” energy economist Fahmy Radhi of Gadjah Mada University (UGM) said in a statement on Tuesday.The second program is PLN’s Take-Or-Pay policy, in which the company guarantees buying a certain amount of electricity from independently owned coal-fired power plants — even when demand collapses, like what is now happening in the pandemic.The Institute for Energy Economics and Financial Analysis (IEEFA) estimates in a recent report that payments to such independent power producers (IPP) will become PLN’s largest operating expense by 2021, exceeding the company’s own spending on fossil fuels.“The COVID-19 crisis has upended Indonesia’s financial settings and PLN’s dealings with the Indonesian public and global markets will need to be adjusted to face a new reality,” said IEEFA Asia director for energy finance studies Melissa Brown.Previously, PLN president director Zulkifli Zaini said in April that the company expected this year’s demand to decline by 9.7 percent from the initial target, as emergency measures imposed by the government to halt the spread of COVID-19 had paralyzed many business activities.“Each 1 percent fall in electricity demand means PLN’s revenue falls Rp 2.8 trillion, as a rule of thumb,” Zulkifli told lawmakers via video conference.He projected the company’s revenues to reach Rp 257 trillion this year, 14.7 percent below the initial target of Rp 301 trillion.Topics : State-owned electricity company PLN’s net profit nosedived last year as a result of higher tax expenses and operational costs that had offset its higher income, according to the company’s annual report released on Monday.PLN booked a net profit of Rp 4.32 trillion (US$292.4 million) in 2019, lower than Rp 11.56 trillion in 2018 even though revenue grew 4.67 percent year-on-year (yoy) to Rp 285.6 trillion from improved electricity access in Indonesia. The company also recorded an income of Rp 73.9 trillion from state reimbursements.“[We] added 3.8 million customers,” PLN spokesperson I Made Suprateka said in a statement on Monday, adding that PLN’s consumer base now stood at 75.7 million users. The company’s operating costs rose slightly by 2.3 percent yoy to Rp 315.4 trillion in 2019, but tax expenses ballooned 2.6-fold to Rp 21.8 trillion over the same time period.Company representatives did not respond to questions about its higher tax expenses. The spokesperson also hinted that the higher sales revenue was notable “under the condition that electricity tariffs did not rise in 2019,” suggesting that increases were mainly driven by the wider customer base.PLN and the government raised Indonesia’s electrification ratio — defined as the portion of neighborhoods that can switch on a lightbulb — to a historical high of 98.89 percent in 2019. last_img read more

Czechs, Slovaks to declare coronavirus state of emergency

first_imgThe Czech Republic and Slovakia are set to declare states of emergency this week to combat the coronavirus pandemic, the prime ministers of the EU neighbors said on Monday after a sharp rise in cases.Czech Prime Minister Andrej Babis told the Nova television station that he expected the state of emergency to be approved at an extraordinary government meeting on Wednesday, but did not detail the nature of the restrictions.A country of 10.7 million people, the Czech Republic has seen record spikes in coronavirus infections in recent days, bringing its total to 65,313 confirmed cases, including 615 deaths. Restaurants, bars, and cafes would close at 10:00 pm (2000 GMT) and if people not living in the same household come closer than two meters (six feet) outdoors, they would have to wear masks.Masks are already compulsory in public indoor spaces in Slovakia.The EU country of 5.4 million registered 9,343 coronavirus infections since the beginning of the pandemic and 44 patients have died.On Friday, the number of daily infections reached a record high of 552. Topics :center_img Babis was echoed by Slovak Prime Minister Igor Matovic who said the “extremely serious” situation called for “very bold decisions” following a meeting of his country’s crisis management team.The measure is also expected to be approved by the government on Wednesday and would be the second time that Slovakia introduces a state of emergency to combat the pandemic.Under the proposed restrictions, all sporting events, cultural events and religious services would be banned from October 1.Weddings and funerals would only be allowed if all the participants can prove they have had a negative test for coronavirus.last_img read more

Sokratis Papastathopoulos backs Alexandre Lacazette to step up during Pierre-Emerick Aubameyang’s suspension

first_imgAdvertisement Comment Aubameyang vs Lacazette this season Premier LeagueAuba – 14 goalsLaca – 5 goalsFA CupAuba – 0 goalsLaca – 0 goalsCarabao CupAuba – 0 goalsLaca – 0 goalsEuropa LeagueAuba – 2 goalsLaca – 1 goal Aubameyang was sent off during Arsenal’s draw at Selhurst Park (Picture: Getty)While Sokratis concedes that Lacazette appears to have been ‘struggling’ at times this season, he’s confident the Frenchman can come in and do a job for the team.AdvertisementAdvertisement‘He’s a machine, a goal machine,’ Sokratis told Arsenal’s official website.‘He’s a very good player. In some games, from the outside, you can’t see what he can do. Or maybe he is a little bit struggling.‘But we have to see also how is the game and which guy he has behind him. Arteta has faith in Arsenal forward Lacazette (Picture: Getty)Arsenal boss Arteta has called on Lacazette and the rest of his attackers to ‘step forward’ in Aubameyang’s absence.‘They now have to make a step forward now he is not able to contribute to the team with goals,’ the Spaniard said.‘Someone else has to do it and I want to see that reaction too.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityArteta added: ‘Losing probably the most important player is never nice.‘We have other players that can play in that position.‘We will try to find a way and be as competitive as possible.’MORE: Manchester United should prioritise signing Bruno Fernandes over James Maddison, says Paul Parker Metro Sport ReporterMonday 13 Jan 2020 6:39 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link835Sharescenter_img Sokratis Papastathopoulos backs Alexandre Lacazette to step up during Pierre-Emerick Aubameyang’s suspension Sokratis Papastathopoulos is confident Alexandre Lacazette can step up in Pierre-Emerick Aubameyang’s absence (Picture: Getty)Sokratis Papastathopoulos has backed Alexandre Lacazette to step up and take responsibility for Arsenal’s goals during Pierre-Emerick Aubameyang’s three-match suspension.Aubameyang scored his 14th goal of the Premier League season before being sent off for a reckless challenge on Max Meyer in Arsenal’s 1-1 draw at Crystal Palace last weekend.The red card means Aubameyang will miss Arsenal’s upcoming league matches against Sheffield United and Chelsea as well as the side’s FA Cup fourth-round clash with Bournemouth.Aubameyang is far and away Arsenal’s leading scorer this term, with 16 goals in all competitions, and his enforced absence will have come as a major blow to new head coach Mikel Arteta.ADVERTISEMENT Advertisement ‘I think he is a very good player, we are with him every time, he is with us and we will show all together in the future a lot of things.‘I think Laca is coming better and better. He’s very important, a massively important player for us.‘Altogether we have to improve, to step up and to show that the year is not finished and that we have to fight for this.’last_img read more

Top news of the week October 15-20

first_imgElba Island LNG (Image courtesy of Kinder Morgan)WoodMac expects 2019 to be LNG FID yearThe year 2019 could be a major one for final investment decisions (FID) on new liquefied natural gas projects, according to the research and consultancy group Wood Mackenzie.US Elba Island LNG export project pushed back againUS energy company Kinder Morgan said on Wednesday that the start-up of its Elba Island liquefied natural gas (LNG) export project near Savannah, Georgia had been pushed back, again.Saipem nets Tortue LNG workItalian oil and gas contractor, Saipem has reportedly snagged a deal to provide FEED services for Tortue LNG facility offshore Africa.Report: ExxonMobil inks 20-year China LNG supply dealUS energy giant ExxonMobil has reportedly signed a framework agreement to supply liquefied natural gas (LNG) to China’s Zhejiang Provincial Energy Group.FERC issues EIS for NextDecade’s Rio Grande LNGNextDecade Corporation said it has been granted a Federal Energy Regulatory Commission (FERC) draft environmental impact statement (EIS) for its Rio Grande LNG project in South Texas. LNG World News Stafflast_img read more

Davido, Teni others thrill fans at Access Bank-Lagos City Marathon

first_imgRelatedPosts Davido to make acting debut in Coming To America sequel I was asked if we had an airport while in US College – Davido Davido’s dedication inspires young talents, says budding artiste Security officials had torrid time controlling the crowd as they battled to catch a glimpse of ace Musician, David Adeleke (Davido), one of the guest musicians at 2020 Access Bank-Lagos City Marathon. The News Agency of Nigeria reports that the 30 billion Gang crooner had the last performance to the admiration of the fans who continued to ask for more. Davido performed most of his hit songs such as Chioma, 30 billion naira, E ma Dami Duro and others. Before Davido came, the rave of the moment, Teniola Apata, popularly known as Teni, also dished out her numerous songs to entertain her fans. Some of her songs included Billionaire, For Your Case and Meyo. NAN reports that 31-year-old Kenyan long distance runner, David Bamarssai, won the race with a prize money of the 5th Access Bank Lagos City 42km Marathon with the time of 2:10:23 Kenya’s Sharon Jemutai Cherop became the First Woman to Finish the marathon also. Guests at the presentation ceremony included Lagos State Governor, Babajide Sanwo-Olu; Chief of Army Staff, Lieutenant General Yusuf Buratai; and Chairman and Lagos State Sports Commission, Sola Ayepeku. Others included the Chairman, Nilayo Sports, organisers of the event, Bukola Olopade; and Director General, LSSC, Oluwatoyin Gafar.Tags: Access Bank Lagos City MarathonDavid AdelekeDavid BamarssaiDavidoJemutai CheropTeniola Apatalast_img read more

NY Woman Accused of Killing Twin Two-Year-Old Daughters

first_imgA Long Island, New York woman is accused of killing her twin toddler daughters, according to authorities.Tenia Campbell’s mother called 911 on Thursday and told the dispatcher that her 24-year-old daughter was “threatening to kill herself and her twin 2-year-old daughters,” Suffolk County Police said.A written police statement shows that the mother, Vanessa McQueen, explained to the 911 operator that Campbell told her, “I killed them with my bare hands, “and that, “she was sorry, but she didn’t want to live anymore.”Officers found Campbell at a county park and took her into custody. They found the girls, Jasmine and Jaida, strapped in car seats inside a vehicle. Both were in cardiac arrest, according to Suffolk Police Commissioner Geraldine Hart.Despite CPR efforts, the twins were pronounced dead at a hospital. Homicide squad detectives have charged Campbell with two counts of second-degree murder.last_img read more

Ellsworth sophomore headed to Australia for Down Under Sports competition

first_img MPA approves golf, XC, field hockey, soccer; football, volleyball moved to spring – September 10, 2020 Mike MandellMike Mandell is the sports editor at The Ellsworth American and Mount Desert Islander. He began working for The American in August 2016. You can reach him via email at Latest Posts Bio ELLSWORTH — Autumn Paul and her family are far from the traveling type. After an unexpected item arrived in the mail back in fall, that’s about to change.Early one morning back in November, the Ellsworth High School sophomore walked in to school just as she would any other day of the year. Soon after she arrived, though, Paul was informed something was waiting for her in the front office.“I was confused because I wasn’t expecting anything,” Paul said. “They just told me to come down. I had no idea what was going on.”Earlier that morning, the Paul residence had received a letter from the other side of the world in Gold Coast, Australia. Upon reading it, her mother, Kelley, drove it to the high school for it to be delivered to her daughter.Ellsworth’s Autumn Paul shows off her Down Under Sports T-shirt. Paul learned of her qualification to the competition back in November. KELLEY PAUL PHOTOThis is placeholder textThis is placeholder textThe letter informed Autumn that she had been one of select few athletes selected to participate in this year’s Down Under Sports competition in Gold Coast, Australia. The program, which holds its annual competition in July, had selected her to represent Maine in outdoor track and field.Although no one in the Paul family had even heard of Down Under Sports prior to receiving the letter, that didn’t matter; the program selects participants based on its own athletic and academic criteria, and it determined Autumn had qualified.“She was really excited, but it was almost not real in a way because it seemed too good to be true,” Kelley Paul said. “We did some research on it and found out that, yeah, this is the real deal, and she’s been looking forward to it ever since.”Participants from the United States and all over the world will travel to Gold Coast for the competition, which will run from July 3-12. Athletes are selected to compete in American football, basketball, cross-country, golf, track and field, wrestling and volleyball.To get to the games, the Paul family must raise money to cover the round-trip costs between Bangor and Australia with connecting flights in Boston and California as well as hotel costs during its stay in Queensland. Kelley Paul said the family’s official fundraiser has raised approximately half of its $5,000 goal.In the meantime, Autumn is focused on helping Ellsworth’s girls’ basketball team continue to rise through the Class B North ranks before the high school outdoor track season begins in the spring. With the state championships set to be held just a month before she heads off for Australia, she’ll be in good shape when she competes in the shot put, discus throw and race walk.“I’m a bit nervous to be on a plane, but I can’t wait to be there,” Autumn said. “It will be fun to meet new people and learn about the Australian culture.”center_img Hospice volunteers help families navigate grief and find hope – September 12, 2020 Latest posts by Mike Mandell (see all) Ellsworth runners compete in virtual Boston Marathon – September 16, 2020last_img read more

Syracuse drops 3rd consecutive conference road game to Florida State

first_img Published on November 10, 2017 at 9:43 pm Contact Anthony: Facebook Twitter Google+ Syracuse (17-11, 9-6 Atlantic Coast) dropped its third consecutive conference road game, this time in four sets to Florida State (13-10, 7-8) on Friday night in Tallahassee. The Orange fell behind early, falling in the opening two sets, but rallied back in the third set to win, 30-28, saving multiple match points in the process. Though SU pulled closer, the Seminoles stopped the Orange’s momentum, winning the final set, 26-24.Syracuse had four players register double-digit kills, led by Anastasiya Gorelina with 17. Amber Witherspoon and Santita Ebangwese added 11 while Christina Oyawele finished with 10. Jalissa Trotter tallied a season-high 46 assists in the main setter role. Defensively, the Orange had three players with double-digit digs, as Trotter and Kendra Lukacs had 10 digs, trailing only Belle Sand with 20.After the Orange jumped out to an early 6-2 lead in the opening set, Florida State used an 11-5 run to recapture the lead. With the set then knotted at 15, the Seminoles scored 10 of the next 11 points, taking the first set comfortably, 25-17.A big Florida State run plagued the Orange again in the second set, as SU saw a 10-8 lead evaporate into a 20-12 deficit. FSU went on to win the second set, 25-19.The third set appeared to be a repeat of the previous two, with a Seminole run allowing FSU to pull away from Syracuse. However, trailing 21-16 after losing seven of nine points, Syracuse rallied. The Orange ripped off eight of the next 11 points, tying the match at 24 and forcing an extended set. The teams traded points throughout, with the Orange saving four match points, until FSU committed three consecutive attack errors, handing the set to Syracuse.AdvertisementThis is placeholder textThe momentum had seemed to turn for the Orange, which propelled out of its third-set win to grab an early lead in the fourth set. After a 9-3 run saw the Orange leading 18-12, the match appeared headed towards a decisive fifth set. Florida State strung together another long streak of points, this time scoring eight of 11 to pull within one. A Seminole kill combined with two SU attack errors allowed Florida State to close out the match despite SU coming close to a the set point. Commentslast_img read more

Kobe Bryant thriving in his own reality-series setting

first_img Newsroom GuidelinesNews TipsContact UsReport an Error Suggestions for a title that could best capture this Kobe Bryant reality series playing out during this 2014-15 season might start with “Survivor,” include “The Voice” and add in some “Fear Factor,” if none of them had already been taken.How about going with “Say Yes to Distress.”The enthrallment in witnessing the 36-year-old Bryant deal with personal highs like passing Michael Jordan on the all-time regular-season scoring list one night, counteracting against franchise low-blows of cursing out teammates and management on iPhone-quality video at the end of a practice, reminds us of what was missed most of last year as he was relegated to making sour faces from the bench during his Achilles tendon rehab.The perplexity of playing a season where he’s setting NBA career records for most missed shots and perhaps most missed opportunities to win games creates a narrative that almost invites more adversity. It provides a better sneak peek at how the league’s best player of the past decade has to deal with it. Five years ago, the Lakers’ megastar allowed director Spike Lee to chronicle a day in his life with 30 cameras called “Kobe Doin’ Work,” which ESPN aired. Bryant has lately been doing work on a cathartic Showtime documentary that will air in February called “Kobe Bryant’s Muse.”In a trailer released this week by the pay-network, Bryant says he’s got things “to get off my chest … I don’t have the patience to sit and write a book, so I’ll do it this way. … What I found in through the process it became more than a documentary. It became therapy on film.”He got more off his chest the other day to our amusement when writing a reflection on passing up Jordan, his apparent muse, for Derek Jeter’s you wonder why these floundering Lakers would even be picked months ahead of time to make their 16th consecutive appearance on the TV-coveted Christmas Day slate next Thursday. Their contest in Chicago picked up by TNT does have a subplot of Pau Gasol playing against his former team for the first time.But seriously, it all filters back in the media to Bryant, who in his 19 seasons will be scheduled to make his 16th Dec. 25 game appearance. He’s likely to gain more national attention himself than how the Clippers-Golden State game will play out afterward at Staples Center.center_img No matter what erratic ratings are generated by actual Lakers games played these days on TWC SportsNet, Bryant is the one who brings the buzz. Particularly when it comes to former NBA players now in the media who played against him who are allowed to marvel at what he’s still channeling on the network-sized multi-platform stage.“Now that he’s got legendary status, he does become a reality TV show, but I don’t think that affects him in terms of what goes on around him,” said Greg Anthony, the 47-year-old CBS/Turner sports analyst whose six of his 11 NBA seasons overlapped with Bryant.“It’s still a joy for me to watch him play, because he competes even when his team doesn’t have enough weapons.”Chris Webber, the 41-year-old NBA TV and TNT analyst who’ll be courtside for the Christmas Day Lakers-Bulls game, was a Bryant opponent for 12 NBA seasons. He had an acute appreciation being able to see video of the Bryant rough-edged outburst at the end of a recent Lakers practice that even brought about a possible endorsement deal from Charmin bathroom tissue.“I loved the rant,” Webber said. “I’m not sure why so many were so up in arms about it. He just cussed out a bunch of millionaires. I love the fact he still has the same intensity that he’s always had.“It’s not even a reality show. This is how Kobe’s always been. To me, seeing the frustrating times of one of the greats, his effort has to be impeccable. In this day and age, you love to see a guy hold others accountable, starting with himself.”This has been a media-based season, remember, that somehow got launched with a suspect ESPN Magazine piece filled with unnamed sources and recycled material that questioned Bryant’s character and teammate loyalty.“Here’s the thing,” said Reggie Miller, the 49-year-old TNT analyst who, in 18 Hall of Fame seasons, played 10 of them against Bryant from 1996 to 2005. “Kobe has said it himself, and so has MJ: (Being who he is) it’s a gift and a curse.“I had a lot of problems with all those anonymous sources in that story that claimed no one wanted to play with him. If guys are too thin-skinned and can’t play with him because he demands maximum effort, then don’t come to L.A.“The only thing Michael Jordan, Kareem Abdul-Jabbar, Magic Johnson, Larry Bird — Kobe — focused on was winning. If that’s holding your teammates accountable for that, so be it.“So, a reality show? Yeah, but in L.A., it’s a good reality show. They’ve got the No. 1 mega-huge star, and I have zero problems with what he’s doing. I encourage it … What’s the difference between what he’s doing and what any CEO of a Fortune 500 company would do behind closed doors? He wants the best. Isn’t that what any CEO would want? Why is Kobe held to another standard?”Because the media is involved in trying to set those standards of measurement? Even so much that some question why he’s leading the Lakers’ charge in wearing “I Can’t Breathe” protest warmup T-shirts.Miller and Webber each said Bryant moving into the No. 3 spot on the all-time scoring list is mind boggling to some degree, especially when they know firsthand just how difficult it is to get on any kind of all-time list. Webber pointed out it’s still vivid in his mind seeing Bryant, as a rookie, shoot three airballs in the final minute of a Western Conference playoff game loss against Utah.“It’s an unbelievable achievement,” said Miller, 17th on that NBA scoring list with just more than 25,000 points. “Think of the hundreds who have played this game on this level.“I’m still just more impressed at his work ethic and longevity. We all started on this same route. And now he’s passing guys who he’s idolized? What more do you want?”The Kobe Bryant Channel, maybe for starters.More media-related notes on Tom Hoffarth’s blog at read more