As a result of the foregoing, we recorded consolidated net loss of KRW1.78 trillion in 2012, the amount of loss increased by KRW698 billion, from net loss of KRW1.09 trillion in 2011.
This concludes the overview of KEPCO’s earnings results for the second quarter of 2012.
[Foreign Language – Korean]
[Interpreted]Now let me move on to the Q&A session. I'm joined with KEPCO's IR committee members in charge of finance, tariff, et cetera. We are prepared to take any questions. [Foreign Language – Korean] [Interpreted] Since we will proceed in both Korean and English, all the questions will be translated. So please ensure your questions and answers are brief. [Foreign Language – Korean] [Interpreted] Please begin. Question-and-Answer Session Operator
[Foreign Language – Korean] [Interpreted] Please begin. Now Q&A session will begin. (Operator instructions) Operator [Foreign Language – Korean] [Interpreted] The first question will be given by (inaudible). Please go ahead sir. Unidentified Analyst [Foreign Language – Korean] [Interpreted] So I have two questions. This question is, what is the amount of account receivable you have accumulated until the second quarter of this year. Second question is, what is the time lag between the actual fuel cost and the market price of a spot commodity. Cecilia Oh [Foreign Language – Korean] [Interpreted] So in the second quarter that is from the April to June of this year, the cumulative account receivable from the cost system is KRW618.5 billion. [Foreign Language – Korean] [Interpreted] Next is, answering your second question. Chang-Keun Shin [Foreign Language – Korean] [Interpreted] My name is Chang-Keun Shin from (inaudible). To answer your second question, I will base my number on the purchase unit price of the cumulus core for the first half of this year which is at $120.47. This level is mix of long term and short term purchase price is significantly different from international stock price but generally we can safely say that there is about $2 to $4 gap. Read the rest of this transcript for free on seekingalpha.com
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