Mazoon Electricity Company, member of Nama Group, posted a profit of around RO 70 million in 2021, compared to RO 68.8 million in 2020.
Total revenues from sales, subsidies and other earnings increased to RO 369.2 million, a growth rate of 5 per cent, compared to RO 350.1 million for the previous year.
The total number of subscribers reached more than 489,500, compared to 473,400 for the year 2020.
The annual report issued by the company indicated that its revenues from sales increased by 24.5 per cent to RO 173 million last year, compared to RO 138.9 million for the year 2020.
The number of units sold to various categories of subscribers increased last year to 9,500 GWh, compared to 8,900 GWh for the previous year. Consumption by the commercial sector, subject to cost-reflective tariffs, amounted to 1,300 GWh last year, compared to 112,900 GWh for 2020, while the government category consumed 967 GWh of power last year, compared to 628.600 GWh for the year 2020. The industry sector category recorded a consumption of 114 GWh last year, compared to 109.700 GWh the previous year.
The data also showed that Mazoon Electricity Company has implemented as many as 40 small-scale solar energy projects, with a total capacity of 8.49 megawatts -hours (MWh).
As part of its strategy, the company continues to work on a project to rehabilitate the distribution networks in the coastal areas of the Wilayat of Jalan Bani Bu Ali.
The company confirmed that it will work to follow all the policies issued by the Oman Investment Authority, ensure the company’s daily business and follow up on its decisions in line with best corporate governance practices.
The report indicated that the number of smart meters installed by the company last year amounted to 38,500, compared to 5,500 for the year 2020, while the prepaid metres amounted to 25,400 metres, compared to 14,800 metres for the previous year.
The report also showed that percentage of electricity losses decreased during the past year to 10.2 per cent, down from 11.1 per cent for the previous year.
The number of new connections for the past year declined from 17,400 in 2020 to 16,300 in 2021 due to the decline in construction activities.
A total of RO 41 million was spent in the implementation of 35 projects last year, compared to 74 projects in the previous year, at a total cost of RO 79.1 million.
As many as 12 projects worth RO 25.2 million are currently under implementation, the company added.
