The Public Enterprises Holding and Administration evaluated the execution of the 2024 fiscal year plan and the 2025 fiscal year plan of Ethiopian Electric Power on Thursday, August 22, 2024 at the Haile Grand Hotel meeting hall.
In the appraisal, the enhancement of electricity supply, the successful achievement in the Great Renaissance Dam project execution stage, the agreement on the sale of energy with Tanzania, the audit of their current accounts by external auditor, the increase in electricity production from previous years and the improvement of implementation of risk management are among activities evaluated as positive performances. During the fiscal year, Ethiopian Electric Power generated 20,523 gigawatts of electricity, which is 97.8 percent of the plan and 15.8 percent higher than the previous fiscal year’s achievement. The assessment showed that by selling 19,086 gigawatts of electricity, the Ethiopia Electric Power achieved 100 percent of the plan and recorded an increase of 18 percent from the previous fiscal year.
Ethiopian Electric Power has realized 90.3 percent of its plan in terms of activities of making the transmission line ready for service and responding to incidents, in inspection and emergency maintenance. It has managed to earn 20 billion Birr in domestic sales and 113 million US dollars in foreign sales. According to its plan, the Ethiopian Electric power carried out various income-generating activities and managed to reduce expenses by 24 million Birr. It has provided 17.4 million Birr support to various community groups according to its corporate social responsibility plan. During this fiscal year, Job opportunities have been created for 4,364 citizens.
The State Minister of Finance, her Excellency W/ro Semerita Sewasew, and Director General of Public Enterprises Holding and Administration, Ato Habtamu Hailemichael chaired the evaluation. The evaluation focused on operations and finance, corporate governance, project and reform plan performances. In the evaluation, the improvements and gaps seen in the implementation of the plan for the fiscal year were evaluated and directions were given on the issues that should be given attention in the future.