{"id":67698,"date":"2024-02-26T19:27:12","date_gmt":"2024-02-26T19:27:12","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=67698"},"modified":"2024-02-26T17:10:22","modified_gmt":"2024-02-26T17:10:22","slug":"uetcl-posts-shs95b-profit-as-power-losses-surge","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge","title":{"rendered":"UETCL posts Shs95b profit as power losses surge"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Uganda Electricity Transmission Company (UETCL) has posted a profit of Shs94.9b for the period ended June 2023 on account of forex gains.<\/b><\/p>\n

UETCL on Friday also reported unpaid arrears of Shs166b resulting from power bills due to different ministries, agencies, and departments.<\/p>\n

Energy Minister Ruth Nankabirwa described the profit as a \u201cgood gesture,\u201d after UETCL\u2019S 15th annual general meeting in Kampala, noting: \u201cWe have also seen more off-taking of power evacuated by UETCL during the period.\u201d<\/p>\n

Energy sales, UETCL\u2019s performance report shows, grew by 7 percent from 5.4 gigawatt per hour due to an increase in demand and supply, leading to Shs1.3b in energy sales revenues.<\/p>\n

Transmission losses<\/p>\n

Uganda currently has an installed electricity generation capacity of slightly above 2,000 megawatts largely from hydropower dams, of which 1,496 megawatts is from large hydropower dams.<\/p>\n

However, annual transmission losses increased to 4.79 percent from 4.2 percent, against Electricity Regulatory Authority\u2019s 4.6 percent target.<\/p>\n

During the period, transmission coverage increased from 3,989 circuit kilometres to 4,218 kilometres with the commissioning of the 132-kilovolt Karuma to Lira, 132-kilovolt Karuma to Kawanda, and 132 kilovolt Mutundwe to Entebbe transmission lines, respectively.<\/p>\n

Power sales to Kenya represented 4 percent, followed by Tanzania with 2.3 percent, Rwanda (0.1 percent) and DR Congo (0.04 percent).<\/p>\n

Ms Nankabirwa revealed ongoing plans to fast-track the construction of more evacuation lines to sell more power.<\/p>\n

South Sudan has asked Uganda to consider selling its 100 megawatts to light pockets of the war-torn country.<\/p>\n

Satisfied with gains made<\/p>\n

For a long time, UETCL had been grappling with reports of corruption and maladministration, which had come to light in mid-2022.<\/p>\n

However, State Minister for Privatisation and Investment Evelyn Anite, said as shareholders they were satisfied with the gains made to improve UETCL\u2019s corporate governance, adding: \u201cThere was no loss of money,\u201d before backing the move to compel government agencies to clear the Shs166b power bill given that the money is budgeted annually but is diverted to other priorities.<\/p>\n

UETCL, alongside UEGCL and UEDCL, was born 24 years ago following the first-generation reforms.<\/p>\n

However, in 2022, the government said it had seen the need to bring the sub-sector up-to-date by amending the Electricity Act, which will see the three agencies merged into one utility company in an ongoing process.<\/p>\n

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

Africa-Press – Uganda. Uganda Electricity Transmission Company (UETCL) has posted a profit of Shs94.9b for the period ended June 2023 on account of forex gains. UETCL on Friday also reported unpaid arrears of Shs166b resulting from power bills due to different ministries, agencies, and departments. Energy Minister Ruth Nankabirwa described the profit as a \u201cgood […]<\/p>\n","protected":false},"author":84,"featured_media":67697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-67698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUETCL posts Shs95b profit as power losses surge - Uganda<\/title>\n<meta name=\"description\" content=\"Uganda Electricity Transmission Company (UETCL) has posted a profit of Shs94.9b for the period ended June 2023 on 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\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UETCL posts Shs95b profit as power losses surge\" \/>\n<meta property=\"og:description\" content=\"Uganda Electricity Transmission Company (UETCL) has posted a profit of Shs94.9b for the period ended June 2023 on acc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-26T19:27:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/02\/sm_1708954301.788025.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"UETCL posts Shs95b profit as power losses surge\",\"datePublished\":\"2024-02-26T19:27:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\"},\"wordCount\":387,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/02\/sm_1708954301.788025.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uetcl-posts-shs95b-profit-as-power-losses-surge\",\"name\":\"UETCL posts Shs95b profit as power losses surge - 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