29 March 2017, Macau

The Annual General Meeting of Companhia de Electricidade de Macau - CEM, S.A. (CEM) was held today at CEM Building. The Annual General Meeting approved the content of 2016 Financial Statements & Annual Report. In 2016, the power consumption increased by 5.8% year on year to hit another record high of 5,255 GWh and the peak demand climbed by 5.6% to 932 MW. CEM performed well in 2016 with the final net profit of MOP746 million.

Due to the overall power consumption increase in Macau, prompting the local power generation increased by 4.5% to 787 GWh from 2015, accounting for 15% of the total power consumption of Macau. In addition, the energy imported from mainland China in 2016 also went up 6.2% to 4,306 GWh compared with 2015, taking up 81.9% of the total power consumption.

CEM continued to invest in critical infrastructure facilities and important assets, with the aim to support the development pace of Macau SAR and meet the ever-increasing demand for power. To enhance the transmission and distribution capacity of the power grid and improve the power supply security, CEM Transmission and Distribution Department carried out multiple infrastructure projects with a total investment of over MOP 660 million. The Average Service Availability Index (ASAI) based on CEM’s responsibility reached 99.9998%, standing at the world’s advanced power supply service level.

CEM has been committed to operating its business in a sustainable way through adopting more low-carbon emission approaches in power generation to serve the public interests, such as the use of natural gas. The natural gas supply for Coloane Power Station B was resumed in March 2017, which will lead to an expected rise in the proportion of local power generation. Moreover, CEM will focus on three main areas for business development, including the continued discussion with the Macau SAR Government about building new combined cycle gas turbine generator units, infrastructures improvement on the smart metering pilot project, the construction of the LEED-certified new Dispatching Centre, and the expansion of the electric vehicle charging network in different districts, as well as communication enhancement between customers and the community.

The General Assembly has also appointed the following members for the new edition of Board of Directors, Executive Committee and Supervisory Board: