Times Of Swaziland: WHERE EEC PROFITS GO

WHERE EEC PROFITS GO
================================================================================
Editor on 22/11/2024 07:24:00


Sir,
EEC acknowledges the concerns raised by the public regarding our multi-year
tariff application. We value these discussions and encourage customers to
continue utilising the platforms provided during public hearings to express
their views and seek clarifications. As a public company entrusted with
delivering a critical service, EEC remains committed to transparency,
accountability and collaboration with all stakeholders.
Financial management and transparency EEC operates within a regulated framework
where financial decisions, including salary structures and operational expenses,
are guided by the Public Enterprises Unit’s policies and approved by relevant
authorities. The profits reported annually in previous years stem from efficient
financial management of revenue streams and investments in infrastructure
projects. These are reinvested to improve service delivery and expand access to
electricity, particularly for underserved communities.
While it may seem contradictory to report profits while applying for a tariff
increase, the reality is that operational losses in some areas, compounded by
rising costs of imported power and infrastructure maintenance, necessitate
periodic adjustments to sustain the reliability of our services. Detailed
financial disclosures and independent audits are part of the regulatory process,
ensuring accountability and clarity.
On salaries and operational costs
The assertion about inflated salaries deserves clarification. As a public
entity, EEC adheres to the Public Enterprises Unit’s guidelines, offering
competitive packages to attract and retain the specialised talent necessary in
the energy sector. These salaries are benchmarked against industry standards,
ensuring fairness and alignment with our operational needs. To address cost
concerns, EEC has implemented strategies to reduce operational expenses,
including optimising processes and improving efficiency across departments.
These efforts align with our mission to balance financial sustainability with
affordability for our customers.
Exploring renewable energy and local resources
The question of capitalising on local coal resources for electricity generation
is a critical part of our long-term strategy. EEC continues to explore
partnerships and investments in renewable and locally sourced energy to reduce
dependence on imports and ensure sustainability. However, transitioning to such
solutions requires significant investment, time, and alignment with Eswatini’s
energy and environmental policies.
Path forward
The requested tariff adjustment is essential to address immediate challenges,
such as rising costs of imported electricity and the need for infrastructure
upgrades. However, EEC is equally focused on pursuing long-term solutions that
minimise financial burdens on consumers. These include exploring innovative
technologies, expanding local generation capacity, and enhancing operational
efficiency.EEC is committed to ensuring operational excellence while
prioritising customer satisfaction and affordability. We thank the public for
their engagement and assure you that your voices are integral to shaping our
policies and decisions.
Khaya Mavuso
Marketing and Corporate Communications Manager - EEC