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UPDATE 2-Chile Endesa, Enersis net tumble on costs, power prices
July 25, 2012 / 8:50 PM / in 5 years

UPDATE 2-Chile Endesa, Enersis net tumble on costs, power prices

 * Firms hit by transport, fuel costs and lower power prices
 * Endesa Chile Q2 net profit skidded 45.7 pct
 * Enersis Q2 profit plummeted 41.5 pct

 (Adds details and quotes)
 SANTIAGO, July 25 (Reuters) - Regional energy generator
Endesa Chile and its parent company Enersis both saw their
second-quarter profits plummet more than 40 percent on higher
fuel and transport costs as well as lower average energy prices,
the companies said on Wednesday.   
 Endesa Chile , the country's leading
electricity generator, said its second-quarter net profit
skidded 45.7 percent from the same period a year earlier to
35.213 billion pesos ($70 million).
 For its part, regional energy group Enersis  
saw its net profit sink 41.5 percent between April and June
compared with the same period last year to 61.960 billion pesos.
 
 "The better results obtained in the distribution business in
Colombia and Chile, as well as the better results in the
generation business in Colombia and Brazil, managed to
compensate to an extent the lower generation business in Chile,
Peru and Argentina and distribution arms in Argentina, Peru and
Brazil," Enersis said in a statement. 
 Enersis has transmission and distribution operations in
Argentina, Brazil, Chile, Colombia and Peru, the same nations
where Endesa generates energy.
 Chile has been grappling with an energy squeeze for years. A
devastating earthquake in early 2010, a drought in
hydropower-producing regions and years of under-investment have
made the energy grid susceptible to more frequent glitches.
 Endesa Chile's revenue rose 0.2 percent in the quarter to
603.13 billion pesos, while revenue of Enersis increased 1.6
percent to 1.65 trillion pesos.
 ( $1 = 501.84 Chilean pesos at the end of June )

 (Reporting by Santiago newsroom; Writing by Alexandra Ulmer;
Editing by Phil Berlowitz)
 

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