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Korea Electric Power Management Discusses Q3 2011 Results - Earnings Call Transcript

Today’s Q&A session will be held by Mr. Chang-Keun Shin, Vice President of KEPCO’s Treasury Department.

Chang-Keun Shin

This is Chang-Keun Shin again. Today I am joined by KEPCO’s IR members in-charge of finance, tariffs and overseas businesses. At this time we are prepared to take any questions you may have.

Question-and-Answer Session

Operator

Now Q&A session will begin. (Operator Instructions) The first question will be given by Geoff from CLSA. Please go ahead sir.

Geoffrey Boyd – CLSA

Yes, thank you for taking the time to do this call. Thank you very much. Just a quick question on the interest expense, I wasn’t clear on the Excel file you sent around, but how much are you capitalizing of the interest, like in the past I think it was around 19% last year, but do you know what percentage is being capitalized this year?

Unidentified Company Representative

[Foreign Language – Korean]

Unidentified Company Representative

[Interpreted] Unfortunately we don’t have the exact numbers with us, so please let us go back and check and get back to you at a later time.

Geoffrey Boyd – CLSA

Okay, thanks. And are you able to give us the updated view on 2011 in terms of your expectations for the full-year in terms of fuel expense and power purchased expense?

Unidentified Company Representative

[Foreign Language – Korean]

Unidentified Company Representative

[Interpreted] Talking about the first fuel cost by the end of this year, the total cost we forecast to be KRW21.780 billion. This is a 14.7% year-over-year increase.

Read the rest of this transcript for free on seekingalpha.com

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