• PLN supports the effort of the Government and regulators in reducing the adverse effect from the pandemic to public.
• PLN is in good financial condition as it maintains its performance of obligations to its business partners in timely manner.
Jakarta, 23 April 2020 – The COVID-19 Pandemic has significant impact on all the Indonesian society from each level. Several policies have been implemented by the Government to prevent the spread of COVID-19, including the Large-Scale Social Restrictions (“PSBB”) and restrictions on the travel of people between countries that consequently have impact on the economic activities.
The impact of this pandemic has caused all business sectors including tourism, industry, retails and automotive to conduct important adjustment to its operational activities. Particularly in electricity sector, there are significant adjustments of business activities due to PSBB implementation in connection with the decrease of electricity demand. The Government, Bank Indonesia and Financial Services Authority (Otoritas Jasa Keuangan) are actively participated to prevent the spread of COVID-19 by taking expansive fiscal and monetary policies to minimize the impact on national economy. In order to reduce the negative impact on the society, the Government has provided incentives amid the spread of this pandemic by providing free electricity bills to electricity customers with a power of 450 VA and 50% discount to subsidized 900 VA customers for 3 months with an estimated amount to Rp3.4 trillion.
In such condition, business activities and financial conditions of Perusahaan Listrik Negara (PLN) are well maintained. PLN maintains its performance of financial obligations to its business partners, including vendors, private electricity partners and commercial creditors, both domestic and foreign, in well and timely manner. In response to the news recently, Sinthya Roesly, PLN CFO explains that PLN has no plan to and is not under negotiation to delay its performance obligations or reprofile its commercial loans. Up to this date, all due and payable obligations have been paid in accordance with the schedule and will continue to be carried out by PLN according to the existing repayment schedule. PLN has adequate liquidity condition and standby loan facilities to be used at any time in fulfilling its obligations. PLN has good track record in the market as a debtor that fulfills its obligations in timely manner to its investors, private electricity development partners and commercial creditors.
PLN also takes efforts to increase efficiency of budget internally by maintaining sufficient electricity supply amid this pandemic as to ensure that services to public are not disrupted. PLN ensures that it has taken all the actions to minimize the risks of electricity demand adjustment and the possibility of income adjustment to be measured and planned in well manner.
As a state owned company in electricity sector, PLN is actively participated in supporting the effort of the Government and helping the Indonesian society to be able to overcome this challenging situation collectively.
Contact Person
I Made Suprateka
Executive Vice President Corporate Communication & CSR PLN
Tlp. 021-7261122
Facs. 021-7227059