Tuesday, October 30, 2007

Endesa profits drop 17.7 percent caused by low hydroelectric reservoir levels

SANTIAGO, Oct 30 (Reuters) - Endesa Chile, the nation's largest electricity generator, said on Tuesday that net income fell 17.7 percent in the first nine months of the year due to higher costs caused by a squeeze on its fuel supplies.


Endesa Chile said sales in the nine-month period rose to 1.253 trillion pesos from 1.042 trillion pesos, while operating profit slipped to 380.334 billion pesos from 392.397 billion pesos.

Like other Chilean electricity generators, Endesa Chile has suffered from low hydro-electric reservoir levels due to scarcer rainfall and cuts in natural gas supplies that have forced it to use more costly diesel fuel.

Here is the full article.