Electricity consumption in Macau rises by 8.5 pct in 2012

31 January 2013

Electricity consumption in Macau rose 8.5 percent in 2012, when Macau power company Companhia de Electricidade de Macau (CEM) is expected to have posted net profit of 500 million patacas (US$62.4 million), said a company source.

During the traditional lunch to celebrate the Lunar New Year, Franklin Willemyns, chairman of the Executive Commission, noted the “rapid development of Macau’s economy in the last 10 years,” which had increased electricity consumption by 124 percent.

Willemyns added that Macau, which was previously self-sufficient in power production, in 2012 produced just 11.2 percent of its total power consumption. A total of 8.7 percent was produced by the company from diesel as since mid-2011 Macau’s natural gas supply from China was suspended and is only due to be supplied again in mid 2013 when construction of a new gas pipeline is due to be concluded.

CEM currently imports 88.8 percent of its energy from the mainland China.

CEM’s main shareholders are two consortiums – a Chinese/French consortium and a Chinese/Portuguese consortium, each with a 42 percent stake – and the remaining 16 percent is owned by China Power International Holding Ltd (6 percent), the Macau government (8 percent) and 800 small shareholders with a total of 2 percent. (macauhub)