PLN records Rp225 billion net profit in 2004

State-owned electricity firm PT Perusahaan Listrik Negara (PLN) booked Rp225.95 billion (US$=Rp 9,450) in unaudited net profit in 2004, swinging from a loss of Rp3.56 trillion the previous year thanks to increasing use of cheaper natural gas to produce electricity, a minister said Thursday.

?Hopefully PLN will continue to use less petroleum products this year as many of its plants are switching to natural gas,? State Minister for State Enterprises Sugiharto told reporters.

Sugiharto expects PLN?s net profit to soar to Rp2.34 trillion this year. (godang)