Isagen Full-Year 2021 Profits Rise 5% Year-on-Year
Medellin-based electric power giant Isagen announced March 24 that its full-year 2021 net income rose 5% year-on-year, to COP$523 billion (US$138 million).
Gross revenues rose 8% year-on-year, to COP$3.48 trillion (US$917 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 25% year-on-year, to COP$$2.27 trillion (US$598 million), according to the company.
During fourth quarter (4Q) 2021, accumulated electric power demand via Colombia’s national grid (Sistema Interconectada Nacional, SIN) hit 19,209 gigawatt-hours (GWh), 6% higher than in 4Q 2020, while full-year 2021 power demand hit 74,117 GWh, the company noted.
“In the fourth quarter 2021, the average market price was COP$181 [US$0.0477] per kilowatt-hour (/kWh), with no significant changes compared to the same period of the previous year. The average price for the 2021 year has been $180[US$0.0.47]/kWh,” Isagen added
Isagen’s mainly hydroelectric power output during 4Q 2021 was 4,559 GWh, 14% higher than in 4Q 2020, according to the company.
“The higher generation is due to better water contributions during 4Q 2021, compared to the same period of the previous year. Accumulated generation in 2021 reached 16,395 GWh, 32% higher than in 2020,” the company added.