Thursday 2019-08-22

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EEC REVENUE INCREASES BY 25%

By Mhlengi Magongo | 2019-06-12

The Eswatini Electricity Company (EEC) collected revenue amounting to E2.25 billion in 2018, an increase of 25 per  cent compared to the E1.8 billion collected in 2017.

This is contained in the company’s annual report for the years 2017 and 2018.

According to the report, operating profit stood at E603 million in 2018, which has also shown an increase from E148 million recorded in 2017. The company’s non-current assets were reported to be over E3 billion, while their current liabilities were over E480 000.

The company also showed improvements in their internal generation production. It increased from 11.8 GWh to 207.8 GWh in 2018. On average, internal generation contributes 20 per cent of the total annual energy demand for the country and the balance was imported.

The report also highlighted that Maguga Hydro Power had improved its contribution to 34.3 percent and there was a significant increase of electricity traded in the SAPP Markets (DAM) from six to 14 per cent due to favorable prices and availability.

The number of customers for ECC increased by 12 per cent in 2018 compared to 2017. The company had a total of 182 562 in March 2017 increasing to 203 538 March 2018. This contributed to the increase in the number units sold as they total to 1 094.7 (GWh). According to their key statistics of units sold, the Domestic population consumed more than the industrial, Agriculture and commercial population.  

ECC health and safe record also increased in the 2017/2018 period. The number of reportable injuries fell by 4.76 per cent and the number of minor public injuries fell by 100 per cent when compared to the previous year. The company also identified a strategic plan to transition from occupational health and safety management standard (OHSAS 18001: 2007) to (ISO 45001:2018) 

OHSAS 18001, Occupational Health and Safety Assessment Series, is a British Standard for occupational health and safety management systems. Compliance with it enables organizations to demonstrate that they have a system in place for occupational health and safety.

ISO 45001 is an International Standard that specifies requirements for an occupational health and safety (OH & S) management system, with guidance for its use, to enable an organisation to proactively improve its OH & S performance in preventing injury and ill-health.

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