CEC diversifies energy mix

The Copperbelt Energy Corporation (CEC) will actively contribute and support Government’s goals by diversifying the country’s energy mix through investment in alternative sources of power.

Currently, the company has agreed with the Copperbelt University to make the solar plant available to the university as part of its corporate social responsibility programme for training engineers in the sub-sector.

This is according to CEC’s summary unaudited results for the period ended June 30, 2017 issued by company secretary Julia Chaila.

Ms Chaila said the company will increase electricity access and develop a strategy to deliver on a more robust tariff mechanism to support Government’s targets.

“CEC expects to continue working on its strategy aimed at market consolidation including its enhanced power sourcing strategy,” she said.

On the performance in the period under review, CEC’s revenue increased by three percent from about K1.7 billion in the same period last to over K1.9 billion, attributing the rise to the appreciation of the Kwacha against the United States dollar.

During the period, the average exchange rate was K9.54 against the greenback compared to K10.70 in 2016, an increase of 11 percent.

“Revenue at half-year increased by three percent in dollar terms but was nine percent lower in the Kwacha terms from K1.91 billion to K1.74 billion compared to the same period in 2016, mainly due to the appreciation of the Kwacha against the dollar,” she said.

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