Rainfall attributed to FEA profit
June 28, 2012 10:37 pm
The Fiji Electricity Authority has recorded $51.9m net profit for last year.
FEA Chief Executive Officer Hasmukh Patel attributed this profit to good rainfall received at the Monasavu catchment.
Rainfall received in 2011 produced 425 Giga watts per hour of energy last year, which is above the average long term rainfall of 400 Giga watts per hour.
Patel says the profit is also attributed to the implementation of the tariff increase to 39.4 cents per unit from April 1st last year.
He adds another contributing factor to achieving the profit was the cost of producing one unit of electricity from diesel which was in excess of 40 cents per unit.