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NamPower records over N$ 5b in revenue

18/07/2018
by Rodney Pienaar
Business

NamPower has recorded revenue of N$5.8 billion in 2017 compared to N$5.0 billion in the previous financial year.

The company has reduced electricity imports by 6% from 63% the previous financial year to 57% in 2017 and this was as a result of the integration of renewable energy into the grid through the Renewable Energy Feed-In Tariff (REFIT) programme, the company’s annual report indicates. 

“The import of electricity from regional partners will continue to be part of our energy supply mix until the realisation of a base load power plant. We are also encouraging Independent Power Producers under the REFIT programme to work tirelessly to bring their projects on board. The implementation of the transmission master plan, which involves the expansion of the transmission network, is progressing very well. A highlight during the year under review was the inauguration of the N$597 million Walvisbay substation,” the report states. 

In addition to the consultations, NamPower conducts a stakeholder perception survey every second year to gauge the opinions of its various stakeholders on, among others, the company’s customer service. 

According to the report, the survey which was conducted during the year under review, engaged the Government, the regulator, large and small customers, suppliers, opinion leaders, financiers and development partners and the public.

“With an average score of 76%, we believe that a healthy working relationship exists between our stakeholders and the utility. Moreover, our service delivery is viewed positively. Despite the positive feedback, we intend to continue improving our service to all our stakeholders. The empowerment of Previously Disadvantaged Namibians (PDN) is central to our operations in line with the NamPower Equitable Economic Empowerment Policy,” the report states. 

The report further states that although the number of PDN owned enterprises which participate in NamPower’s procurement activities has increased, there is a need to strengthen these enterprises and to have them participate directly in the provision of goods and services to NamPower.