Macau: Electricity company CEM doubles electricity import capacity from China

24 June 2008

Macau, China, 24 June – Macau electricity company, Companhia de Electricidade de Macau (CEM) has increased its electricity import capacity from the Chinese province of Guangdong almost two-fold, the company said in a statement.

CEM noted that with a new sub-station going into operation located near the border with mainland China, at an investment of 260 million patacas (US$32.5 million), the company’s total power capacity had increased from 375MVA to 700MVA.

The sub-station, with a total area of 2,010 square metres, went into operation last week, after a year of construction work.

“CEM estimates that the maximum consumption of electricity for this year in Macau will be approximately 700MVA (…) which together with CEM’s local production capacity of 400MVA, will allow the company to respond to the growth in demand over the next year,” the company said in the statement.

The import of energy from mainland China to Macau accounts for 70 percent of the region’s consumption. Macau has a population of 543,000 people.

CEM, which has been linked to the Guangdong power grid since 1984, said that the company’s investments in 2008 would total 1 billion patacas.

CEM ended 2007 with profit of 433.1 million patacas (US$54.13 million), an increase of 9.2 percent on the 396.6 million patacas profit posted in 2006.

This year the start of natural gas supplies to Macau is also expecetd, a project being implemented by Sinosky Energy, a consortium made up of China Petroleum & Chemical Corporation and Companhia de Gas Natural de Macau, Limitada (Sinopec/Gás Natural de Macau) which was granted a 15 year contract for importing and transport of natural gas to Macau.

Over 80 percent of the capital of CEM belongs to two groups with interests in China, Portugal, France and Hong Kong.

The Chinese-French group mainly made up of Suez and NWS Holdings Limited owned 42 percent of the capital and Chinese-Portuguese group, in which Portugal’s EDP has a majority stake, also has 42 percent.

The Government of the special administrative region of Macau (SARM) has 8 percent of the company’s capital, China Power International Holding Ltd has 6 percent and the remaining 2 percent are in the hands of 800 local shareholders. (macauhub)