CEC Plc revenue drops to $163 million

COPPERBELT Energy Corporation (CEC) Plc’s revenue has reduced from US$201.8 million last year to US$163.4 million this year due to a lapse of the power supply agreement with Konkola Copper Mines (KCM).
KCM is now supplied power by Zesco Limited but using CEC’s transmission and distribution lines at sub-economic tariffs determined by Energy Regulation Board following the re-declaration of its infrastructure as common carrier.
The company further recorded a reduction in gross profits from US$57.8 million to US$53.1 million in the period under review.
Nevertheless, CEC recorded an increase in revenue from domestic wheeling by 13 percent to US$4.806 million on the back of reduced load shedding.
Regional power sales also increased by four percent to US$37.769 million on account of customers’ increased power uptake and the use of CLICK TO READ MORE

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