The state-run Korea Electric Power Corporation(KEPCO) has posted a deficit in operating profits of over 800 billion won during the first half of this year.

KEPCO reported Monday its operating profit in the first half dropped by more than three trillion won from the two-point-three trillion won tallied during the same period last year, resulting in a deficit of over 810 billion won.

The power operator noted that growth in electricity sales grew from one-point-two percent in the first half of 2017 to over four percent this year.

The firm cited factors that contributed to a sharp increase in operational expenses such as expanded facility investment and fuel costs resulting from higher global oil prices.

KEPCO said it expects better performance in the second half, amid higher demand and continued use of air conditioners during the summer heat wave.

It also promised to carry out restructuring efforts and push for overseas projects to improve earnings.