Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ECB profit drops by 7.75%

Home Business ECB profit drops by 7.75%
ECB profit drops by 7.75%

An increase in the generation of electricity for own consumption by customers like solar rooftops, which is not subject to the Electricity Control Board levy, was one of the factors that contributed to a reduction in the volume of electricity supplied. 

This in turn translated to a decrease in profit for the ECB whose income for 2021 amounted to N$86.4 million, representing a decrease of 7.75% from the N$93.7 million recorded in the previous financial year.

According to the 2021 ECB annual report, tabled in parliament this week, the board’s main source of revenue is levy income.

“The actual volumes of electricity supplied decreased by 10.3%, compared to the previous financial period. The reduction in electricity units sold emanates from the prevailing decrease in economic activities, which are primarily attributed to the impact of Covid-19,” reads the report.

The levies received are charged on volumes of electricity supplied by the Namibia Power Corporation (NamPower) and licensed embedded and isolated generators. The ECB levy charge per kWh remained the same for the 2020/2021 financial year. 

Other income for the period under review was derived mainly from interest earned, licence fees, and rentals earned on the former ECB office building.

Outlining the future outlook, the report stated the ECB’s financial position remains sound, but the reduced electricity consumption levels are not expected to recover at a fast pace, given the prevailing economic downturn which remains a concern for the ECB’s future revenue projections. 

“The ECB continues to implement prudent financial measures to ensure financial sustainability in the short, medium, and long-term. A review of the existing financial policy will be undertaken to ensure the policy responds to the growing operations of the ECB,” the report stated. mndjavera@nepc.com.na