The trust manager attributes this to higher costs as well as the “under recovery” of fuel costs at City Energy, its town gas unit. There’s a time gap between costs incurred by City Energy and the adjustments it makes on tariffs charged to users.
Keppel Infrastructure Fund has reported a distribution per unit of 1.91 cents for 1HFY2022 ended June, up 2.7% y-o-y. The distribution will go ex on Aug 3 and be made on Aug 12.
KIT owns a portfolio of utilities assets. For 1HFY2022, distributable income was $87.6 million, down 13% y-o-y.
