Addis ababa: The Ethiopian Electric Utility (EEU) surpassed its annual target by collecting 118.91 billion Birr in revenue during the 2018 Ethiopian fiscal year, the utility disclosed.
According to Ethiopian News Agency, the revenue generated from electricity sales, new customer connections, and other operational streams, significantly contributed to financing infrastructure development, enhancing service delivery, and expanding access across the nation.
During the presentation of its annual performance report to the media, EEU highlighted key achievements in revenue generation, grid expansion, customer service, digital transformation, and strategic targets for the upcoming fiscal year. Getu Geremew, Chief Executive Officer of EEU, emphasized the utility's progress in revenue collection, access expansion, service quality, and digital adoption during the reporting period.
Against a planned revenue target of 115.86 billion Birr, EEU generated an impressive 118.91 billion Birr. The utility also contributed 12.39 billion Birr in taxes and government revenues, marking a 56 percent increase compared with the previous fiscal year. Getu noted that total expenditure reached 133.6 billion Birr, covering operations, infrastructure construction, maintenance, and capital investments. Additional internal resources were also mobilized to support network upgrades and capacity expansion.
Throughout the fiscal year, EEU connected 664,505 new customers, increasing its total customer base to 5.88 million. Electricity access was extended to 205 rural towns and villages through both grid and off-grid solutions. The utility expanded its distribution network by 13,269 kilometers and rehabilitated 4,892 kilometers of existing lines. To reinforce grid reliability, it installed 8,834 distribution transformers, adding 1,621 MW of capacity.
EEU purchased and distributed 18,319 gigawatt-hours of electricity for domestic and export markets, achieving 100.5 percent of its target and reflecting a 15.5 percent surge in power demand compared with the previous fiscal year. The report highlighted notable strides in digital transformation, with digital payment usage climbing to 95.3 percent. EEU further expanded digital services, introducing smart metering, electronic receipts, and multi-channel self-service platforms.
Power reliability improved as the frequency of interruptions declined, driven by routine inspections, proactive maintenance, and infrastructure upgrades. However, operational hurdles such as infrastructure theft, vandalism, power theft, and right-of-way constraints continue to pose challenges. Looking ahead to the 2019 Ethiopian fiscal year, EEU aims to connect 1.1 million new households, extend the distribution network by 12,549 kilometers, electrify 317 rural villages, and boost energy sales volume to 21,331 gigawatt-hours while pursuing further service enhancements.