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Egyptian Electricity Transmission Company aims to increase purchased energy by 33% in upcoming FY This is compared to the 157.7bn kWh purchased in the current FY.
The Egyptian Electricity Transmission Company (EETC) announced this week that it aims to increase the amount of purchased energy by 33%, as it intends to acquire a capacity of 210.8bn kWh in the upcoming FY. This is compared to the 157.7bn kWh purchased in the current FY. Furthermore, the EETC plans to raise its revenue in the next FY by 20.8%, as it is targeting EGP 178.1bn in revenues, compared to EGP 147.4bn. According to the EETC's budget for FY2022/23, the company is also targeting cash collection from issuance and arrears amounting to EGP 158.480bn — or 91.2% of issues and arrears. Additionally, costs and expenses are targeted to rise by 5%, as it is planned to record EGP 172.4bn in the next FY, compared to EGP 163.7bn. Egypt's electricity sector seeks to strengthen and develop the electricity transmission networks to absorb the large capacities sourced from new and renewable sources. This has led to a noticeable improvement in the country's technical performance indicators. Moreover, Egypt has implemented several projects in the field of overhead lines and high voltage transformer stations nationwide, where the lengths of high voltage lines and cables have been increased by 3.14% from 31,084 km to 32,060 km.
