Uganda power distributor Umeme 2021 pretax profit jumps 34%

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 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. […]

Fines, imprisonment just two weapons in the anti-power theft, vandalism arsenal

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

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 […]

169MW of purchased electricity goes unsold every quarter - ERA

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 […]

Museveni: Parliament to Amend Law to Lock Umeme Out of Industrial Power Distribution

Museveni: Parliament to Amend Law to Lock Umeme Out of Industrial Power Distribution

Museveni meeting Chinese investors at State House, Entebbe on Wednesday President Museveni has said he will engage the Speaker of Parliament to fast-track the amendment of the Umeme Act and ensure that electricity goes directly from generation to the industrial consumer to spur economic growth through industrialization. “Power should go directly from generation to the […]