CGN Power's profits slightly inched up by 3.4% to US$539m

Supply and demand in China was "easing back".

China's largest nuclear power plant operator - announced a 36.3% increase in revenue in the first six months of 2016 to CNY13.1 billion ($2.0 billion), compared with the same period last year.

In a 24 August statement to the Hong Kong Stock Exchange, CGN Power - the publicly traded subsidiary of China General Nuclear (CGN) - also said it saw profits rise 3.4% during the six-month period, to CNY3.6 billion.

"In the first half of 2016, the electric power supply and demand in China was generally easing back," the CGN said. "The growth of demand for power consumption of certain provinces where the company's nuclear power generating units located was slow. Certain units operated at reduced load or went on standby temporarily."

CGN added, "In respect of production and sale of electric power, through the collective efforts of all employees, we strived to ensure the supply of electricity as planned while actively achieving more market power generating with regard to the market conditions."

As of 30 June, CGN managed 16 power reactors (including Fangchenggang 1), with a total installed capacity of 17,090 MWe. The company achieved "on-grid power generation" of 47,886 GWh in the first half of 2016, up almost 32% from the same period in 2015. The units had an average capacity factor of 90.17% and an average load factor of 73.92%, compared with that of 77.82% and 75.07% during the first half of 2015.

CGN noted that Yangjiang 3 and Fangchenggang 1 had started commercial operations on 1 January 2016.