EEC SALES REVENUE INCREASES TO E2.361M

MBABANE – Total sales revenue for the financial year stood at E2.361 million; a marginal increase from last year’s E2.347 million.

In the 2022/23 financial year, the number of customers increased by 4 per cent, most of which were from domestic connections. Units consumed increased by 0.5 per cent and commercial customers increased significantly in consumption.

However, commercial customers revenue only increased by 1 per cent, subdued by the tariff decline. Similarly, units and revenue for large customers have declined due to the tariff reduction and some customers’ migrations to solar.
The company reported that the 11 027 new customer connections comprised of 10 316 domestic customers connected through the rural electrification projects, propelled by funding from the Government of the Kingdom of Eswatini. 665 customers were small commercial and 46 were large customers.

Consumption

Domestic customer consumption grew by 1.2 per cent, small commercial by 4.5 per cent and large customer consumption declined by 1.0 per cent. Although domestic customers grew by 10 316, most of the customers are rural communities, and their consumption is relatively low. The small commercial increase was not unexpected after the COVID-19 period, which had a significant impact on this category. Some large/major customers migrated to solar energy, hence the decline in consumption.

Domestic customer sales revenue grew by 4 per cent, small commercial increased by 1 per cent and major customers dropped by 2 per cent. The domestic increase was propelled by the consumption from the new connections. The large commercial drop is mainly driven by the reduced tariff and partly the adoption of alternative generation.
The small commercial category increased, however, by a smaller proportion compared to the increase in units consumed.

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