The company’s net profit more than tripled to Shs139bn in 2021 Kampala, Uganda | ISAAC KHISA | Uganda’s electricity distribution firm, Umeme, has seen 2021 net profit more than triple to Shs139bn owed to increase in customer base and electricity sales. This is the similar profit earned in 2019 during the pre-COVID period. Umeme recorded […]
Tag: XNAI_UMME
169MW of purchased electricity goes unsold every quarter – ERA
On average, distribution companies fail sell at least 17.6 percent of purchased electricity. PHOTO | FILE Electricity distribution companies on average lose about 169 megawatts every three months, which remain unsold, according to data from Electricity Regulatory Authority (ERA). According to details contained in the ERA Electricity Distribution Statistics report for the quarter ended September […]
Uganda power distributor Umeme 2021 pretax profit jumps 34%
KAMPALA (Reuters) – Uganda’s sole power distributor Umeme Limited said on Monday its pretax profits jumped 34% last year as a loosening of COVID-19 restrictions fuelled a surge in demand for energy. Umeme said its pre-tax profit rose to 642.2 billion shillings ($179 million) in the twelve months to end-December, compared with 478.9 billion shillings […]
Umeme returns to revenue and profits growth
Umeme Limited pointed to an increase in electricity sales and customer connections as the power distributor returned to year on year revenue and profits growth in 2021. Revenue rose 13.5 per cent to Shs1.8 trillion helped by an increase in electricity sales and revenue from electricity distribution construction services, according to the companys’ earnings statement. […]
Uganda power distributor Umeme 2021 pretax profit jumps 34%
KAMPALA (Reuters) – Uganda’s sole power distributor Umeme Limited said on Monday its pretax profits jumped 34% last year as a loosening of COVID-19 restrictions fuelled a surge in demand for energy. Umeme said its pre-tax profit rose to 642.2 billion shillings ($179 million) in the twelve months to end-December, compared with 478.9 billion shillings […]
Electricity losses rise to 18%
Uganda exports much of its electricity to Kenya and partly to Tanzania, eastern DR Congo and South Sudan. PHOTO | FILE Umeme’s energy losses for the period ended December 31, 2021 surged from a decrease registered in the period ended December 2020, according to the electricity distributor’s financial results. In details contained in the company’s […]
Umeme returns to revenue and profits growth
Umeme Limited pointed to an increase in electricity sales and customer connections as the power distributor returned to year on year revenue and profits growth in 2021. Revenue rose 13.5 per cent to Shs1.8 trillion helped by an increase in electricity sales and revenue from electricity distribution construction services, according to the companys’ earnings statement. […]
Uganda Securities Exchange equity turnover drops 73%
Uganda Securities Exchange (USE) started the new year on a weak footing with equity turnover falling by 73.8 percent to Ush 2.05 billion ($579,828) in January. According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily […]
Fines, imprisonment just two weapons in the anti-power theft, vandalism arsenal
A man checks his ‘Yaka’ units in Uganda. PHOTO/FILE The proposal to fine one Shs400 million or Shs1 billion for stealing electricity or vandalising power infrastructure respectively has elicited immense public interest. Government, which made the proposal, says should Parliament pass it, arguing that it will deter would-be offenders. On the other hand, there are […]
Fines, imprisonment just two weapons in the anti-power theft, vandalism arsenal
A man checks his ‘Yaka’ units in Uganda. PHOTO/FILE The proposal to fine one Shs400 million or Shs1 billion for stealing electricity or vandalising power infrastructure respectively has elicited immense public interest. Government, which made the proposal, says should Parliament pass it, arguing that it will deter would-be offenders. On the other hand, there are […]