ADDIS ABEBA – State-run Ethiopian Electric Utility (EEU) says it has obtained over 7.1 billion Birr from the sale of electrical energy in the 2018/19 fiscal year. Ethiopian fiscal year ended July 7, 2019.
The utility firm has failed to hit its target for the budget year, which was over 9.366 billion Birr.
In a statement issued on Wednesday, the firm said it has collected 7.184 billion Birr, achieving 76.71% of its target.
During the 2018/19 fiscal year, the country has been forced to ration electricity for domestic and industrial customers for almost two months after a drop in water levels in hydroelectric dams led to a production deficit.
This has also forced the country to suspend electricity exports to neighboring Djibouti and Sudan, which earns the country 180 million USD a year.