Abolition of Premium and Decline in Electricity Sales Price Due to Change in Sales Destination for Two Kyushu Power Plants
First written in FY2020. 4 of 5 entries say "Restated". Latest entry: FY2023-Q1.
The whole theme swung hardest in 2024: 3 of 13 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding the elimination of premiums and the decline in electricity sales prices resulting from changes in the sales destinations of the 2 Kyushu power plants. - FY2021-Q3RestatedAnnual report
「Although consolidated revenue increased as a result of operations at the EF-ON Mibu Power Plant, earnings fell below the same period of the previous year because the premium pricing at existing power plants ended.」
While the loss of premium prices and decline in profitability following changes in the sales destinations of existing power plants continued, it states that operations at the Mibu Power Plant boosted consolidated revenue. - FY2021-Q2RestatedAnnual report
「Compared with the same period of the previous year, operations at the EF-ON Mibu Power Plant made a significant contribution to improved performance, despite a considerable decline in the electricity selling prices at existing power plants.」
It states that while lower electricity sales prices at existing power plants continued, operations at the Mibu Power Plant boosted performance. - FY2021-Q1RestatedAnnual report
「Fuel consumption at the 2 power plants in Kyushu tended to be lower than in the previous year, but performance remained below the previous year because electricity sales prices declined following a change in the sales destinations for electricity.」
It states that the decline in electricity sales prices caused by a change in the sales destination continued during the current quarter, and that the performance of the 2 power plants in Kyushu was below the previous year. - FY2020MaterialisedAnnual report
「In the Group's power generation business, profitability declined because of deteriorating fuel efficiency caused by heavy rainfall in the first quarter, lower electricity selling prices resulting from a fuel mix centered on recycled wood, and the loss of premiums following changes in the sales destinations of the EF-ON Hita and EF-ON Bungo-Ono power plants to transmission and distribution companies.」
The Company states that changing the sales destinations of the EF-ON Hita and Bungo-Ono power plants eliminated their premiums, resulting in lower electricity selling prices and profitability after the transition to standard FIT prices.