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ECB records over N$70m in revenue

11/07/2018
by Rodney Pienaar
Business

The Electricity Control Board of Namibia (ECB) has recorded revenue of N$76.5 million in the 2017 financial year representing a 12% increase compared to N$ 68. 3 million recorded in the previous year. 

This is mainly due to an increase in ECB Levy income which makes up 93% of revenue and the ECB Levy that is charged to consumers on electricity supplied by NamPower and by licensed embedded generators or isolated generators.  

The chief executive officer of ECB, Foibe Namene has stated that the demand for electricity continue to rise significantly and the country’s supply from its own resources remain unbalanced with the demand not fully met by local supply. 

“We are still dependent on imported electricity. Although this is a concern for the Regulator, we remain optimistic that the finalisation of the National Integrated Resource Plan and its final implementation will successfully address this challenge. Another challenge remains the slow pace in the Electricity Distribution Industry restructuring process following the EDI Summit held in October 2014. Various stakeholder consultations on how best to address the EDI Reform took place,” she stated. 

She added that the current and future impact of technological innovation on the energy sector, places the ECB in a position where it will have to assist utilities to align their ambitions with those of their customers in a new energy future. 

Namene also said that such interventions will have to be geared towards ensuring that utilities remain cost-reflective and that their services relevant. 

Furthermore, the volumes of electricity supplied increased by 2% from 3 985 895 MWh in prior year to 4 080 990 MWh for the year under review.