THE Korea Electric Power Corp. (Kepco) has been named best company in the electric utility sector in the world as it jumped into the 97th rank in the Forbes Global 2000.
This is the first time Kepco has made it into the top 100 and an Asian power company has taken the No. 1 spot.
The company was only ranked 171st last year and fourth in the electric utilities sector.
The Forbes Global 2000 is an annual ranking of the largest companies in the world based on revenue, profits, assets and market value.
The company’s net profit reached 10.2 trillion won ($8.63 billion) as of last year and its price per share rose to the 60,000-won level from 20,000 won in 2012. Kepco also lowered its debt ratio from 135.8 percent in 2013 to 99.9 percent last year.
In a press statement, Kepco Manager Joo, Yoon-jung said the company believes that Forbes thought highly of its projects in 21 countries, including those operating in Japan and United Arab Emirates.
Kepco, through its wholly-owned subsidiary Kepco Philippines, has been active in the Philippine energy sector since June 1995.
It currently operates two major power plants in the country.
Kepco SPC’s 200-megawatt (MW) Cebu Power Plant in the City of Naga, which has been a key power supplier in the Visayas region since 2011, and the 1,200-MW natural gas Ilijan Combined-Cycle Power Plant in Batangas, which has been cited by the US-published POWER Magazine as one of the Top 12 Power Plants in the World in 2003.
Kepco Philippines also operated the Malaya Thermal Power Plant in Pilillia, Rizal, returning it to its original rated generation capacity of 650 MW at a much lesser cost as compared to building a similarly-sized new power plant. (PR)