In its press briefing today, Ethiopian Electric Utility, EEU, announced that it has collected ETB14.97 billion from Energy and related sales out of the planned ETB 25.38 billion. Its planned revenue collection performance reached only 59%.
Mr. Shiferaw Telila, CEO, Ethiopian Electric Utility, EEU, said ETB11.06 billion Revenue was generated from energy sales alone. The Utility collected additional revenue from Connection Charges( ETB 3.88 billion), sales of scarped materials (ETB 19.03 million), arrears (ETB200 million) and other sources( ETB 7.43 million).
The CEO told the audience that the utility managed to construct 3403.81 KMs MV lines, 2797.19 KMs of LV distribution lines, installed 769 distribution transformers, connected 168,751 new customers, electrified 308 rural towns and villages and rehabilitated all of the 17 planned towns this year budget year.
The utility has also commissioned Enterprise resource planning, ERP, system meant to modernize the organization's operational processes, standardizing the financial reporting and digitizing the payment collections systems.
Ethiopian Electric Power, EEP, says, it has collected USD 66.4 million sales revenue from electricity export to neighbouring countries of Djibouti and Sudan. EEP planned to collect USD 56.92 million from electricty export in 2012 Ethiopian fiscal year(2019/2020GC) and exceeded its target hitting 116.5 percent.
This years revenue has shown an improvement of USD11.5 million as compared to the last fiscal year. The improvement was attributed to the sufficient water reserve in the Dams and reduced power interruption in the system.
The Utility eyes Kenya as one of the planned power export destinations as soon as the 500 KV DC power line under construction is completed. Bilateral agreements are in the making with Somalia, Tanzania and South Sudan as part of the power project integartion in the whole region.
