PLN'S Q1 OIL CONSUMPTION DOWN 27 PCT

Jakarta, Apr 29 (ANTARA) - State power utility PT PLN said it managed to cut oil consumption by 27.2 percent to 2.036 million kiloliters in the first quarter of 2009 from 2.796 kiloliters in the same period last year.

The reduction in oil consumption enabled the company to cut its operating expenses by up to Rp3.7 trillion, PLN President Director Fahmi Mochtar said in a short message on Tuesday.

Meanwhile, in the last three-month period of 2009 coal consumption rose to 5.373 million tons from 4.802 million tons and gas consumption to 57,900 billion British thermal unit (BBTU) from 43,400 BBTU in the same period a year earlier, he said.

He said the company would keep trying to lower its oil consumption while at the same time raising coal and gas consumption in line with the operation of power plants with a combined capacity of 10,000 megawatts.

PLN has set itself a target of lowering its oil consumption by 3.4 million kiloliters to 7.9 million kiloliters this year from 11.3
million kiloliters last year.

PLN's gas consumption is expected to increase to 298,000 BBTU from 181,000 BBTU and coal consumption to 24.6 million tons from 20.9 million tons.

With the drop in oil consumption, the company's oil spending this year is projected to fall to 18 percent from 24 percent of its energy needs.

PLN has targeted to post a net profit of Rp1 trillion this year on the assumption the rupiah's exchange rate will average Rp9,500 per dollar, Indonesian crude price (ICP) US$60 per barrel, and coal price US$80 per ton and power sales will grow 6 percent.
Last year the company suffered a loss of Rp12.3 trillion of which Rp9.3 trillion came from exchange rate losses.