Ghana: ECG’s Path To Sustainability Depends On Technology (Article)
In the modern technology era, it is untenable for the Electricity Company of Ghana (ECG) to continue chasing customers for electricity payments. Inadequate revenue collection, commercial losses, and technical losses are not justifiable when digital solutions exist to eliminate these inefficiencies. Across the globe, utilities are leveraging technology to ensure financial sustainability, and Ghana must follow suit.
The adoption of prepaid smart intelligent meters is a proven model that guarantees upfront revenue collection, eliminates bad debts, and streamlines operations. ECG’s recovery depends on strategic investments in such technology-driven solutions.
The prepaid smart metering system eliminates the traditional revenue collection challenges faced by postpaid billing models. With prepaid meters, customers pay before consuming electricity, similar to how mobile phone users purchase airtime before making calls.
This model ensures that no electricity is consumed without payment, preventing revenue leakages and bad debts. Globally, utilities in South Africa (Eskom), Kenya (Kenya Power), and India (Tata Power) have successfully implemented prepaid smart metering, leading to improved revenue collection, reduced commercial losses, and enhanced customer satisfaction.
ECG’s financial sustainability is compromised by billing inefficiencies, meter tampering, illegal connections, and delayed payments.
These commercial losses can be eradicated through prepaid metering, which provides real-time energy tracking and enhances billing accuracy.
Countries like South Africa have seen substantial improvements in revenue assurance after transitioning to prepaid meters, with Eskom reporting enhanced cash flow and reduced non-payment issues. Similarly, Kenya Power’s adoption of prepaid meters significantly improved revenue collection and reduced disconnection-related costs.
A full-scale transition to prepaid smart meters is not just an operational improvement—it is a financial necessity.
While concerns about implementation costs exist, the long-term benefits outweigh the initial investment. Prepaid meters improve cash flow, reduce operational costs related to disconnections and debt recovery, and empower consumers with better energy management tools.
India’s Tata Power has leveraged smart metering to cut losses and optimize distribution efficiency, proving that technology investments yield significant returns.
ECG must prioritize the adoption of prepaid smart intelligent meters to ensure financial sustainability and operational efficiency.
The telecom industry has successfully eliminated revenue losses through prepaid models—electricity distribution must follow suit.
With global precedents demonstrating the benefits of prepaid metering, ECG has no excuse to continue operating inefficiently.
The time for strategic investment in technology is now—ECG must embrace digital transformation for a financially stable and technologically advanced electricity sector.
By: Dr. Elikplim Kwabla Apetorgbor
Kenya: KenGen Reports 79% Growth In Half-Year Profit
The Kenya Electricity Generating Company (KenGen) PLC, East Africa’s largest electricity producer, has reported a remarkable 79% growth in profit after tax for the six months ending 31st December 2024, reaching Khs5.30 billion.
The NSE-Listed (KEGN) power producer posted a net profit of Ksh.5.30 billion, up from Ksh.2.96 billion in the same period last year, a gain primarily driven by aggressive cost-cutting measures and enhanced operational efficiencies.
At the same time, KenGen achieved a 49.4% increase in operating profit, reaching Ksh.6.65 billion from Ksh.4.45 billion in the previous period.
This improvement was fueled by a 13.7% reduction in operating expenses, which fell to Ksh.17.67 billion from Ksh.20.47 billion. Revenues, on the other hand, remained stable at Ksh.27.5 billion.
“This performance is a testament to KenGen’s financial discipline and strategic focus on efficiency,” said Eng. Peter Njenga, the company’s Managing Director and CEO.
“We are optimizing our assets, streamlining operations, and leveraging our leadership in renewable energy to drive long-term value for our shareholders and the country.”
The company’s finance income rose to Ksh.2.45 billion from Ksh.1.87 billion, augmented by higher returns on cash investments and a more stable Kenyan shilling. Meanwhile, finance costs dropped to Ksh.1.13 billion from Ksh.1.49 billion, reflecting improved capital management and debt optimization.
KenGen remains at the forefront of Kenya’s renewable energy transition, supplying 4,291GWh of electricity in the half-year period, up from 4,211GWh in the previous period. This increase was primarily supported by improved hydrology and availability of our generation fleet.
Looking ahead, KenGen is focused on expanding its renewable energy portfolio under its G2G 2034 Strategy, a long-term blueprint aimed at bolstering Kenya’s green energy transition. Between 2025 and 2027, the company plans to add 194.4MW of installed capacity across geothermal, hydro, and solar projects, along with 100MWh of battery energy storage to enhance grid stability.
With a strong balance sheet and a firm commitment to sustainability, KenGen is positioning itself as a key player in Africa’s clean energy future.
However, the company’s Board has opted not to declare an interim dividend for the period, prioritizing reinvestment and long-term strategic growth to maximize shareholder value.
KenGen’s earnings per share (EPS) surged by 78% to Ksh.0.80, up from Ksh.0.45, reinforcing the company’s ability to create shareholder value in a dynamic energy market.
“We are driving the future of energy in Kenya,” said Njenga, adding: “Our commitment to operational excellence and innovation ensures that Kenyans will continue to benefit from reliable and affordable electricity for years to come.”
KenGen remains at the heart of Kenya’s transition to a low-carbon energy future, leveraging its geothermal stewardship and renewable energy expertise. With a resilient business model, strong financial fundamentals, and a clear vision for growth, KenGen is primed to play a catalytic role in shaping the future of Africa’s energy industry.
Source: https://energynewsafrica.com
Zambia: ZESCO Launches Free Net Meter Installation Promotion; 1,000 Customers To Benefit
Zambia’s power utility company, ZESCO Limited, has unveiled an exciting promotion to encourage the adoption of renewable energy solutions among its customers.
Starting February 1, 2025, the power utility company would provide free net meter installations to 1,000 eligible customers.
The promotion, which includes a free net meter, administrative fee and installation charge, aims to promote the integration of renewable electricity into the national grid.
According to ZESCO Limited’s Acting Managing Director, Eng Justin Loongo, “This initiative empowers our customers to take control of their electricity. By embracing renewable energy self-generation, customers can enhance electricity reliability, reduce their carbon footprint and foster a sustainable energy future.”
The promotion is open to single-phase prepaid, three-phase prepaid and maximum demand post-paid customers with renewable energy solutions ranging from 5kVA to 5,000kVA (5MW).
Net metering offers numerous benefits, including savings on electricity bills and increased energy independence.
How to Apply:
Applications can be made online at https://netmetering.zesco.co.zm or by visiting any ZESCO walk-in centre across the country. Latest updates and other details can also be obtained from our social media pages.
Net Metering Explained:
Net metering allows customers who generate their own electricity from renewable sources- such as solar-to feed excess electricity back into the national grid.
When a customer generates more electricity than they use, the surplus is sent to the ZESCO grid, and they receive credits that can offset future electricity bills.
Net Metering enables customers to reduce their overall energy costs while contributing to a sustainable electricity future for Zambia.
Source: https://energynewsafrica.com
Ghana: Energy Minister Engages With Petroleum Downstream Sector Players
The Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, has assured key stakeholders in the Petroleum Downstream Sector of the government’s commitment to work with them to address pressing challenges and implement critical reforms in the sector.
In a broader stakeholder engagement meeting with players in the industry, the Minister acknowledged the vital role these stakeholders play in ensuring product security and efficiency in the petroleum sector.
He emphasised the government’s plan to review the entire downstream sector to bring it in line with modern trends to enhance operational efficiency, accountability and sustainability.
Hon. John Jinapor reaffirmed the government’s resolve to address the numerous challenges the industry players are faced with, such as the Forex (Exchange Rate), the Gold for Oil Programme, Local Content and Refinery Revitalisation.
The Minister further mentioned that the government would establish a Renewable Energy Investment and Green Transition Fund to accelerate Ghana’s shift towards cleaner energy sources.
The stakeholder meeting held at the Ministry of Energy and Green Transition brought together the Ghana Chamber of Bulk Oil Distributors (CBOD), the Chamber of Oil Marketing Companies (COMAC) Tanker Owners Union and the Tanker Drivers Union to foster cordial relationships in the industry.
In response, the industry players expressed gratitude to the Minister for the engagement and assured him of their commitment to supporting and collaborating with him in the discharge of his function.
Source: https://energynewsafrica.com
Hon. John Jinapor reaffirmed the government’s resolve to address the numerous challenges the industry players are faced with, such as the Forex (Exchange Rate), the Gold for Oil Programme, Local Content and Refinery Revitalisation.
The Minister further mentioned that the government would establish a Renewable Energy Investment and Green Transition Fund to accelerate Ghana’s shift towards cleaner energy sources.
The stakeholder meeting held at the Ministry of Energy and Green Transition brought together the Ghana Chamber of Bulk Oil Distributors (CBOD), the Chamber of Oil Marketing Companies (COMAC) Tanker Owners Union and the Tanker Drivers Union to foster cordial relationships in the industry.
In response, the industry players expressed gratitude to the Minister for the engagement and assured him of their commitment to supporting and collaborating with him in the discharge of his function.
Source: https://energynewsafrica.com South Africa: Severe Storms Knock Out Electricity Supply In Eastern Cape’s Butterworth And Qumbu Areas
Severe storms in South Africa’s Eastern Cape have disrupted electricity supply to thousands of residents in Butterworth and Qumbu.
According to Eskom, the country’s power utility company, technicians are on site assessing and repairing damage to restore power as soon as possible.
As of Thursday, February 6, 2025, Eskom reported that the storms damaged a transformer in Butterworth, affecting areas including Toleni, Godidi, Ndabakazi, and surrounding communities. In Qumbu, damaged poles caused 132kV and 22kV line failures.
Eskom apologized for the inconvenience and urged customers to be patient while they work to restore power.
The estimated restoration time is late evening on Thursday, February 6, 2025.
Source: https://energynewsafrica.com
UK To Make Building Nuclear Easier
The Starmer government, which has the most ambitious plan for decarbonizing the country in Europe, is going to make it easier to build nuclear power plants in what appears to be yet another piece of proof that an energy transition is unattainable without nuclear power.
Bloomberg reports that the government of Keir Starmer plans to widen the availability of sites for nuclear power plant construction, which has been extremely restricted. The goal: bring down energy costs and provide a boost for the economy.
There are currently two nuclear power plants under construction in the UK. Both, however, have suffered delays and massive cost overruns, drawing strong public criticism. Hinkley Point C began construction over 10 years ago and is yet several years away from completion. The delay would also increase the final tab for the power plant.
Sizewell C has doubled in cost since 2020 when the original plans were made for the project, with developer EDF—which is also building Hinkley Point C—attributing the cost jump to construction material costs and general inflation.
This is perhaps why the new government plan for nuclear focuses on small modular reactors rather than the traditional large-scale facilities that take years to build. Per the government’s website, “Reforms to planning rules will clear a path for smaller, and easier to build nuclear reactors – known as Small Modular Reactors –to be built for the first time ever in the UK. This will create thousands of new highly skilled jobs while delivering clean, secure and more affordable energy for working people.”
Small modular reactors are touted as the nuclear power plants of the future but they have yet to be deployed at any scale, with cost challenges and red tape among the obstacles to this deployment. The Starmer government’s plan appears to focus on the red tape as well as opposition from local communities to new nuclear power plants.
Source: Oilprice.com
Ghana: Over 30 Journalists Receive Training On Energy Sector Reporting
Ghana-based independent digital energy media, Energy News Africa Limited, has held a capacity-building programme for over 30 selected journalists in Accra, capital of Ghana, to build their capacity on accurate energy sector reporting in the era of social media.
The journalists were selected from the print media, television, radio and online media.
The programme had the theme: Navigating the Complexities of Social Media: Best Practices for Accurate Energy Reporting.
The programme was attended by Charles Wundengba, Chief Executive Officer (CEO) of Wundef (based in Obuasi, Ashanti Region); Dr Riverson Oppong, CEO of Chamber of Oil Marketing Companies (COMAC); Benjamin Nsiah, Executive Director for Centre for Environmental Management and Sustainable Energy (CEMSE); Ambassador Kabral Blay-Amihere, renowned Journalist and former Board Chairman of GRIDCo, and Dr Kwame Ampofo, former Board Chairman of Energy Commission.
During a presentation, the CEO of Wundef Media, Charles Wundengba, explained that social media was effective but not a substitute for traditional news, arguing that though social media helps in information dissemination, most of its sources ought to be verified before sharing to stem the tide of misinformation and disinformation in the Ghanaian society.
Statistically, he said as of April 2024, Internet users in Ghana had grown to over 24.06 million and social population had reached 7.40 million, while mobile phone users had jumped to 38.95 million.
Touching on how social media has transformed its users to do things presently, he stated that it had impacted very fast on news dissemination by breaking it very fast and spreading it wide, and it has also become easier through the use of citizen journalism.
Explaining how the advent of social media is creating challenges in the society, Wundengba was of the view that the use of artificially generated stories is also sometimes used to dent the credibility of people in the society unjustifiably.
With reference to the impact of inaccurate reportage on the energy sector, he noted that false information on fuel prices could lead to hoarding which would affect the livelihoods of the citizenry in the country.
Commenting on inaccurate reportage in the sector, the Wundef CEO said “any company in the energy sector’s image could be ruined if the right checks are not taken.”
Explaining key strategies for reporting accurately on energy issues, Wundengba, who is also a journalist, urged sector media practitioners to be conversant with the subject matter on energy, verify sources, fact-check, clarify terminologies and data in the sector as well as their backgrounds before reporting to ensure right information dissemination in the sector.
Michael Creg Afful, Managing Editor of Energy News Africa Limited and lead organiser, emphasised the importance of the training in his opening remarks.
He noted that the media plays a crucial role in shaping public perception about the energy sector, and journalists must be equipped to produce factual and well-researched stories.
Dr. Kwame Ampofo, former Chairman of the Energy Commission and Chairman of the workshop, echoed similar sentiments.
He stated that enhancing journalists’ writing skills and guiding them on fact-checking would ensure that energy-related news remains accurate and credible.
Dr Ampofo who is also a former Managing Director of the Tema Oil Refinery (TOR) advised journalists to be thorough in their investigations, urging them to seek clarification before publishing stories that might misrepresent the realities of the energy sector.
Addressing the risks of misinformation in the media, Charles Wundengba cautioned journalists about the rampant spread of fake news on social media.
He stressed the need for reporters to understand their subject matter, verify sources and dates, present balanced perspectives, fact-check statistics and clarify terminologies before publishing stories.
Adding to the discussion, Ambassador Kabral Blay-Amihere, former Board Chairman of GRIDCo, underscored the importance of journalists having a deep understanding of the energy sector’s structure.
“If you want to be an energy reporter, know all the chains of command in the energy sector and always verify and fact-check to avoid misleading the public,” he advised.
Dr Riverson Oppong also addressed the attendees, urging them to scrutinise their sources, cross-check information with reputable media outlets and assess the credibility of authors before reporting on energy-related stories.
The training programme is a step in promoting responsible journalism in Ghana’s energy sector, equipping journalists with the necessary skills to navigate the complexities of social media while ensuring accurate and fact-based reporting.
Source: https://energynewsafrica.com
Explaining key strategies for reporting accurately on energy issues, Wundengba, who is also a journalist, urged sector media practitioners to be conversant with the subject matter on energy, verify sources, fact-check, clarify terminologies and data in the sector as well as their backgrounds before reporting to ensure right information dissemination in the sector.
Michael Creg Afful, Managing Editor of Energy News Africa Limited and lead organiser, emphasised the importance of the training in his opening remarks.
He noted that the media plays a crucial role in shaping public perception about the energy sector, and journalists must be equipped to produce factual and well-researched stories.
Dr. Kwame Ampofo, former Chairman of the Energy Commission and Chairman of the workshop, echoed similar sentiments.
He stated that enhancing journalists’ writing skills and guiding them on fact-checking would ensure that energy-related news remains accurate and credible.
Dr Ampofo who is also a former Managing Director of the Tema Oil Refinery (TOR) advised journalists to be thorough in their investigations, urging them to seek clarification before publishing stories that might misrepresent the realities of the energy sector.
Addressing the risks of misinformation in the media, Charles Wundengba cautioned journalists about the rampant spread of fake news on social media.
He stressed the need for reporters to understand their subject matter, verify sources and dates, present balanced perspectives, fact-check statistics and clarify terminologies before publishing stories.
Adding to the discussion, Ambassador Kabral Blay-Amihere, former Board Chairman of GRIDCo, underscored the importance of journalists having a deep understanding of the energy sector’s structure.
“If you want to be an energy reporter, know all the chains of command in the energy sector and always verify and fact-check to avoid misleading the public,” he advised.
Dr Riverson Oppong also addressed the attendees, urging them to scrutinise their sources, cross-check information with reputable media outlets and assess the credibility of authors before reporting on energy-related stories.
The training programme is a step in promoting responsible journalism in Ghana’s energy sector, equipping journalists with the necessary skills to navigate the complexities of social media while ensuring accurate and fact-based reporting.
Source: https://energynewsafrica.com
Ghana: Edward Obeng- Kenzo Appointed Acting VRA CEO
Ghana’s President John Dramani Mahama has appointed Ing. Edward Obeng-Kenzo as the Acting Chief Executive Officer (CEO) of the Volta River Authority (VRA), a state-owned power generation company in Ghana.
Prior to his appointment, Obeng-Kenzo served as the Deputy Chief Executive Officer in charge of Engineering and Operations, bringing over 22 years of experience in the power sector.
A formal handover ceremony took place on Wednesday, February 5, where outgoing CEO Emmanuel Antwi Darkwa officially transferred leadership to Obeng-Kenzo. However, Obeng-Kenzo’s confirmation as substantive CEO will depend on the yet-to-be-formed board’s decision.
As Acting CEO, Obeng-Kenzo will be responsible for providing strategic direction and leadership to various departments of the company.
Obeng-Kenzo’s extensive experience and qualifications, including a Master’s Degree in Public Administration and a Bachelor of Science Degree in Mechanical Engineering, make him well-suited to lead the VRA.
PROFILE – EDWARD EKOW OBENG-KENZO
Edward Ekow Obeng-Kenzo is an accomplished Business Executive, focused on supporting cross functional teams in achieving exceptional, mission critical results in highly competitive environments that demand continuous improvement to increase return on investment (RoI) and deliver customer satisfaction.
Obeng-Kenzo has 24 years experience in the power sector.
He holds a Masters Degree in Public Administration (MPA) and a Bachelor of Science Degree (BSc Hons) in Mechanical Engineering from the Kwame Nkrumah University of Science and Technology.
He is a member of the Ghana Institution of Engineering.
Prior to his appointment into his current position, Obeng Kenzo served as the Director, Thermal Generation SBU, Plant Manager, Tema Thermal Power Complex (TTPC), Operations Manager, TTPC and Project Manager, Tema Thermal 2 Power Project, (49.5MW Siemens Emergency Power Plant).
Key responsibilities: provides strategic direction and leadership to the Departments in the Engineering and Operations branch to innovate and improve their efficiencies to ensure VRA stays a market leader.
Departments: Hydro Generation, Engineering Services, Technical Services, Environment & Sustainable Development, Commercial Services, Thermal Generation, Strategic Projects and New Business, Utility Services, Water Resources and Renewable Energy.
Source: https://energynewsafrica.com
Nigeria: Abba Aliyu Appointed As MD Of Rural Electrification Agency
Nigeria’s President Bola Tinubu has confirmed Abba Aliyu as the substantive Managing Director of the Rural Electrification Agency (REA).
Aliyu has been acting in this role since March 2024 and brings over 20 years of experience in energy and organizational development to the position.
With his extensive background in the on-grid and off-grid power sectors, as well as water resources and transportation, Aliyu is well-equipped to lead the REA.
His previous roles include Head of the Project Management Unit at the Nigeria Electrification Project, General Manager of Corporate Services, Projects, and Research, and Deputy General Manager at Nigeria Bulk Electricity Trading PLC (NBET).
President Tinubu expects Aliyu to utilize his expertise to further the REA’s mission of providing reliable electric power to rural communities.
This aligns with the administration’s Renewed Hope Agenda, which focuses on sustainable energy and power.
Aliyu’s appointment is for an initial term of four years, effective from January 23, 2025.
Source: https://energynewsafrica.com
Mauritania: BP Flows First Gas At Greater Tortue Ahmeyim LNG Project
Global oil and gas firm, BP, has begun flowing gas from wells at the GTA Phase1 liquefied natural gas (LNG) project to its floating production storage and offloading (FPSO) vessel for the next stage of commissioning.
GTA, offshore Mauritania and Senegal, is one of the deepest offshore developments in Africa, with gas resources in water depths of up to 2,850 metres.
Once fully commissioned, GTA Phase 1 is expected to produce around 2.3 million tonnes of LNG per year.
In 2021, it was declared “a project of strategic national importance” by both host governments.
This announcement marks an important milestone towards realising the potential of Mauritania’s and Senegal’s gas resources, with the possibility for the countries to become an important LNG production hub.
“This is a fantastic landmark for this important megaproject. First gas flow is a material example of supporting the global energy demands of today and reiterates our commitment to help Mauritania and Senegal develop their natural resources,” said Gordon Birrell, EVP production & operations.
“Africa’s significance in the global energy system is growing, and these nations now have enhanced roles to play. Congratulations to the project and production teams for delivering this project and for always keeping safe operations at the heart of what they do. Thank you to the entire GTA team, our partners and host governments for this tremendous achievement.”
Gas from GTA Phase 1 is being introduced to the GTA FPSO approximately 40 kilometres offshore, where water, condensate and impurities are removed. From there, it will be transferred via pipeline to a floating liquefied natural gas (FLNG) vessel located 10 kilometres offshore, where it will be cryogenically cooled, liquefied and stored before being transferred to LNG carriers for export. Some of the gas will be allocated to help meet growing energy demand in the two host countries.
“With this milestone, Mauritania and Senegal take a major step towards an exciting new chapter as gas-exporting nations. I am proud of the relationships we continue to strengthen in both countries. Without the resilience and dedication of the bp team, as well as our partners, host governments and of course the people of Mauritania and Senegal, none of this would have been possible,” said Dave Campbell, SVP Mauritania and Senegal.
GTA construction activities have generated more than 3,000 local jobs, and the project has engaged with around 300 local companies across Mauritania and Senegal.
bp and partners have invested in local workforce development – including a four-year apprentice training programme – and started a multi-million-dollar social investment programme that aims to enhance local quality of life and create long-term opportunities for local development.
Source: https://energynewsafrica.com
UK Considers Withdrawing $1-Billion Financing For Mozambique LNG
The UK government is seeking legal advice on whether a 2020 commitment to finance the $20-billion Mozambique LNG project with $1.15 billion is still binding, the Financial Times reported on Tuesday, citing sources familiar with the matter.
Back in June 2020, government agency UK Export Finance (UKEF) made the decision to provide up to $1.15 billion worth of direct loans and credit guarantees to UK firms involved in the project, as part of its remit to support UK exports.
The $20-billion LNG export project in Mozambique led by TotalEnergies was halted in 2021 due to a deteriorated security situation and has been under force majeure ever since.
In the meantime, the Conservative UK government of Boris Johnson in December 2020 pledged to end taxpayer support for fossil fuel projects overseas as soon as possible.
Now the Labour government is taking legal advice over whether the UKEF pledge to support the Mozambique project is still binding, according to FT’s sources.
“Number 10 have been trying to find a way for this not to happen, but they have been worried about being countersued if they don’t do it,” a source close to the incumbent government told FT
Last month TotalEnergies told FT that the complicated political uncertainties and security issues had forced the French supermajor to pusg back once again the restart of works for its project in Mozambique.
In 2021, following Islamist militant attacks in towns close to the site, TotalEnergies suspended works on the $20-billion project, which was Africa’s largest foreign investment when announced.
Since 2021, TotalEnergies has waited for several conditions to be met to take a positive decision on resuming work on the project. The goal to achieve first LNG production has also slipped, first to 2027, and later, to 2029.
Now the 2029 timeline is also threatened as TotalEnergies did not resume work on Mozambique LNG by the end of 2024, as planned last year.
TotalEnergies confirmed to FT that its plans to restart the project by the end of last year slipped amid the disputed presidential election in Mozambique, the continued violence, and concerns about the security situation.
Source: Oilprice.com
South Africa: Eskom Appoints Leslie Mkhabela As Lead Independent Director To Strengthen Governance
South Africa’s power utility, Eskom, has appointed Mr Leslie Mkhabela has been as the Lead Independent Director, effective 31 January 2025.
Mr Mkhabela joined the Eskom Board as an Independent Non-Executive Director on 01 October 2022, when the new board was appointed by the late Minister of Public Enterprises Mr Pravin Gordhan.
“In our quest to strengthen governance and leave behind an organisation with structures that have the necessary robust checks and balances, the Board deemed it necessary to appoint Mr Mkhabela as a Lead Independent Director.
“We are happy that Mr Leslie Mkhabela has accepted this important role which he will occupy for the remainder of his term as an Eskom Board member. He has consistently demonstrated decisive, ethical, and inclusive leadership,” said the Eskom Board Chairman, Mr Mteto Nyati.
Source: https://energynewsafrica.com
Kenya: Kenya Power Posts Ksh.9.97 Billion Net Profit for Half-Year Ended December 2024
Kenya Power has announced an impressive net profit of Ksh.9.97 billion for the half-year period ended December 31, 2024. This significant financial performance is attributed to increased electricity sales, reduced cost of sales, and lower finance costs.
During the period, electricity sales rose by 5% to 5,506 GWh, up from 5,225 GWh in the same period of the previous financial year.
The growth in sales was driven by improved network reliability, connection of new customers, and enhanced outage resolution timelines.
“The increase in electricity unit sales was driven by higher consumption as a result of improved network reliability, connection of new customers and improved outage resolution timelines supported by the availability of critical materials including meters and transformers,” said Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror.
Despite the increase in electricity sales, power purchase costs decreased by Ksh.11.65 billion, thanks to the strengthening of the Kenya Shilling against major foreign currencies. This reduction in costs, combined with lower finance costs, contributed significantly to the company’s improved financial performance.
Finance costs reduced by Ksh.13 billion to Ksh.1.97 billion in December 2024, down from Ksh.15 billion in December 2023.
This decrease is attributed to the strengthening of the Kenyan Shilling against major foreign currencies, which account for 90% of the company’s loan portfolio.
Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror, noted that the company’s strategy focuses on powering people for better lives while maintaining operational excellence.
He emphasized the company’s commitment to sustaining its improved financial performance through targeted initiatives that enhance efficiency and diversify revenue streams.
To drive long-term growth, Kenya Power is advancing the transformer metering project to improve energy balance and system efficiency.
The company is also poised to capitalize on the anticipated lifting of the moratorium on new power generation contracts, which is expected to increase electricity sales as peak demand rises.
As part of its revenue diversification plan, Kenya Power has commenced implementation of the Government’s Digital Superhighway project, which involves rolling out last-mile fibre optic cable connectivity to approximately 6,000 government institutions nationwide.
“At the core of our strategy is a commitment to powering people for better lives while maintaining a sharp focus on operational excellence. Looking ahead, we are committed to sustaining our improved financial performance through targeted initiatives that enhance efficiency and diversify revenue streams to drive long-term growth,” said Dr. (Eng.) Siror.
Following the positive performance, the Board of Directors has announced an interim dividend of Ksh.0.20 per share.
Source: https://energynewsafrica.com
Ghana: WAPCo Has Begun Major Inspection And Maintenance Project On Its Offshore Pipeline
The West African Gas Pipeline Company Limited (WAPCo), owner and operator of the West African Gas Pipeline (WAGP), has begun a major maintenance project on its 569 km offshore pipeline infrastructure that traverses four West African nations from Wednesday, February 5th to March 2, 2025.
The maintenance includes the pigging and the in-line inspection of the 569 km offshore pipeline infrastructure, from Ajido, Lagos State, Nigeria to Takoradi, Western Region, Ghana and replacement of critical subsea valves at Tema and Cotonou to enhance operational safety.
This maintenance project will necessitate the temporary suspension of specific services, including the reverse flow transportation of natural gas from Ghana’s Western Region to Tema in the east, as well as gas transportation services from Nigeria to Cotonou (Benin), Lomé (Togo), and Tema (Ghana).
However, some gas transportation services from Nigeria to Takoradi in Ghana will continue during this period to ensure the successful execution of the pipeline cleaning and inspection activities.
The comprehensive cleaning and inspection exercise is a key regulatory requirement and aligns with industry best practices to ensure the safe and efficient operation of the West African Gas Pipeline (WAGP).
The cleaning and inspection, which encompasses the entire pipeline stretch from Itoki, Ogun State, Nigeria to Takoradi, Western Region Ghana is in two phases.
The first phase, which was completed in December 2024, involved cleaning and inspecting the onshore section of the pipeline within Nigeria.
The second phase was scheduled in January 2025 but rescheduled to February 3, 2025, to allow the new administration arrange for adequate fuel to power the thermal plants to keep the lights on. The second phase will focus on the offshore section of the WAGP.
WAPCo is mandated to conduct these inspections every five years (or on a risk-based schedule) as part of its commitment to maintaining the integrity of the WAGP and ensuring its safe and reliable operation across the West African region.
WAPCo has actively engaged with key stakeholders to ensure the necessary alignment for the successful implementation of this project.
WAPCo expressed appreciation to the maritime and regulatory authorities across the four West African nations as well as its customers, shippers, gas off-takers, host communities, shareholders, and all other relevant stakeholders for their continued collaboration and contribution to the success of this exercise “WAPCo is committed to maintaining the proactive stakeholder engagement processes established during the project’s preparation phase, during execution.
The company will continue to engage with relevant stakeholders on all matters to ensure the project’s safe execution and success,” says Auwal Ibrahim, WAPCo’s General Manager Operations & Maintenance.
Source: https://energynewsafrica.com