EEC WANTS E5.2BN FROM YOU!

PIGG’S PEAK – In the next two years, the Eswatini Electricity Company (EEC) wants to collect E5.2 billion from consumers.

James Mabundza, the acting EEC Customer Service Manager, revealed that during the next two years, the revenue requirements would be E2 390 569 319 and E2 793 322 039, respectively for the year 202/2021 and 2021/2022. This will translate to a total of about E5.2 billion.

Mabundza revealed this when making a presentation yesterday during the ongoing public hearings on the proposed tariff increase.
The public hearing was held at the Pigg’s Peak Baphalali Red Cross Hall.
 EEC is seeking an increase of 5.7 per cent from the Eswatini Energy Regulatory Authority (ESERA).

Expenditure

Mabundza further noted that 56 per cent of the company’s expenditure was from importing electricity.  EEC spends about E1.34 billion on electricity imports.
Mabundza said the tariff increase request was for the organisation to cover costs which included imports.

In terms of percentage, domestic consumers will have to fork out more than their business counterparts. 
In his presentation on the proposed tariff increase, Mabundza revealed that the increase for domestic consumers would be 65.2 per cent. The small commercial organisations will have an increase of five per cent.

He noted that the average increase would be 5.7 per cent.  Though he said the proposed average increase was 5.7 per cent to cover EEC for 2020/21 and 2021/22, the projected increments were below 5.4 per cent for the two years.

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