Ethiopian Electric Power (EEP) has announced its intention to sell electricity to local companies in foreign currency, marking the first time such a move is being made.

Contracts have been signed with nine foreign companies, with a total value of USD 73 million for the upcoming year. These companies are strategically located near transmission lines, making the delivery of electricity easier and more cost-efficient. Moreover, by purchasing electricity directly from EEP, it is hoped that these companies could avoid power outages and other disruptions.

According to Ato Mnilik Getahun, the Manager of Sales and Customer Management at EEP, the move would enable EEP to earn foreign currency and reduce the cost of electricity distribution. In the past, EEP had heavily invested in transmission lines to export electricity to neighboring countries, but selling electricity to local companies would be more cost-effective.

Source: Addis Zemen