{"id":46252,"date":"2023-09-07T20:32:41","date_gmt":"2023-09-07T20:32:41","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150"},"modified":"2023-09-07T20:41:06","modified_gmt":"2023-09-07T20:41:06","slug":"power-utility-profits-up-150","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150","title":{"rendered":"Power utility profits up 150%"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The profits of Eletricidade de Moc\u0327ambique (EDM) more than doubled in 2022 to 5.22 billion meticais (\u20ac75.3 million), according to the report and accounts of the state-owned electricity company, to which Lusa had access on Friday.<\/p>\n

According to the document, the company recorded a net profit of almost 2.1 billion meticais (\u20ac30.3 million) in the 2021 financial year, so profits grew by almost 150% last year.<\/p>\n

The company has a share capital of 51.72 billion meticais (\u20ac747 million) and ended 2022 with total assets of more than 261.67 billion meticais (\u20ac3.88 billion) and liabilities of 138.22 billion meticais (just under \u20ac2 billion).<\/p>\n

EDM\u2019s turnover in 2022 was 46.83 billion meticais (\u20ac676 million), a growth of 10% in the space of a year.<\/p>\n

The document adds that the number of EDM customers increased by 14% in 2022, compared to the previous year, to 2,936,751, also advancing the \u201cexpansion of the network and the intensification of new connections\u201d, which allowed 356,640 more families \u201cto benefit from electricity, exceeding the target set in the business plan by 11.5%\u201d.<\/p>\n

The population\u2019s Household Access Rate to the electricity network increased by four percentage points in 2022, to 43% in 2022.<\/p>\n

According to EDM, of the country\u2019s 416 administrative posts, 318 are connected to the National Electricity Grid, which represents a coverage rate of 76% across the territory.<\/p>\n

The Mozambican electricity company ended 2022 with 3,864 permanent employees, and management admits that it is resorting to \u201csubcontracting to cope with the staff shortage\u201d in order to \u201cmeet\u201d the increase in demand \u201cand fulfil the annual target of connecting 320,000 new customers to the National Electricity Grid\u201d.<\/p>\n

At the end of last year, EDM operated a medium-voltage distribution network of 22,992 kilometres and a transmission network of 6,355 kilometres with 15,906 pylons.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The profits of Eletricidade de Moc\u0327ambique (EDM) more than doubled in 2022 to 5.22 billion meticais (\u20ac75.3 million), according to the report and accounts of the state-owned electricity company, to which Lusa had access on Friday. According to the document, the company recorded a net profit of almost 2.1 billion meticais (\u20ac30.3 […]<\/p>\n","protected":false},"author":84,"featured_media":46251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-46252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPower utility profits up 150% - Mozambique<\/title>\n<meta name=\"description\" content=\"The profits of Eletricidade de Moc\u0327ambique (EDM) more than doubled in 2022 to 5.22 billion meticais (\u20ac75.3 million), acc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power utility profits up 150%\" \/>\n<meta property=\"og:description\" content=\"The profits of Eletricidade de Moc\u0327ambique (EDM) more than doubled in 2022 to 5.22 billion meticais (\u20ac75.3 million), acc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-07T20:32:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-07T20:41:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103006.085218.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"737\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Power utility profits up 150%\",\"datePublished\":\"2023-09-07T20:32:41+00:00\",\"dateModified\":\"2023-09-07T20:41:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/09\/sm_1694103006.085218.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/power-utility-profits-up-150\",\"name\":\"Power utility profits up 150% - 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