On November 22, 2024, the Public Enterprises Holding and Administration reviewed the performance of the Ethiopian Electric Power and Ethiopian Railway Corporation for the first quarter of the 2024 fiscal year.
On the day, the first performance review was conducted on the Ethiopian Electric Power and among its achievements, the increase in electricity supply, the increase in foreign sales, and the closing of the 2016 fiscal year accounts for audit are valued. Power generation during the quarter exceeded the plan, and power sales showed growth paralleled to the plan and the same period last year. Power generation and power transmission projects achieved more than 80 percent of the plan in physical performance. During the first quarter, 6,456 gigawatts of electricity produced. This is 117 percent of the plan. When measured against key performance indicators, average accomplishments in power transmission and distribution operations for the quarter was 89 percent. Power sale was 6,004 gigawatts, which is 114 percent of the plan.
The second enterprise evaluated on the day was the Ethiopian Railway Corporation. The corporation’s quarterly performance review underscored the improvement in revenue generation, the establishment of a training center, the entry into the construction sector, and the activities being carried out in asset management. The corporation has been striving to implement new projects that can generate revenue, and during the quarter, it planned to repair 15 km of gravel roads out of the 60-120 km of gravel roads of Robe-Gassera-Ginire, which it is currently engaged in, and has completed 12.44 km of roads, or 81.3 percent of the plan. It has also managed to collect assets worth Birr 148.6 million through its work on asset management. The corporation has also achieved encouraging income by overcoming the challenges it faced in the past. Based on the plan, it has provided support of Birr 500 thousand to various sections of the community. By following the resource utilization and cost minimization system, it has been able to reduce 4. 6 million Birr.
In the review, the Acting Director General of the Public Enterprises Holding and Administration, Ato Zinabu Yirga, and the Deputy Director General of the Public Enterprises Holding and Administration, Ato Tegistu Amsalu, expressed their gratitude to the leaders of the Enterprises for their significant contribution to overcoming the challenges that the enterprises faced.