Venezuela's EDC narrows Q1 loss to 25.6 bln bolivars

Mon May 5, 2003 05:17 PM ET CARACAS, Venezuela, May 5 (<a href=reuters.com>Reuters) - Venezuela's largest private energy generator and distributor, Electricidad de Caracas (EDC) EDC.CR , on Monday reported a narrower first-quarter net loss of 25.6 billion bolivars and said it had reduced its costs compared with a year earlier.

EDC, an affiliate of U.S. power firm AES Corp. AES.N , said the quarterly result represented a 25 percent improvement over the net loss it posted a year earlier.

Since February, the fixed exchange rate has been 1,600 bolivars to the U.S. dollar. The company did not immediately provide its dollar results.