AMMAN — According to the Amman Stock Exchange as reported in
Al Mamlaka, the accumulated debts of
Jordan Electric Power Company’s (JEPCO) subscribers increased by four percent at the end of the first quarter this
year, reaching JD518.72 million.
اضافة اعلان
JEPCO recorded an expected credit loss provision of JD34
million against its subscribers’ debts at the end of the first quarter of this
year and JD27 million in the first quarter of 2022.
The external auditor of the company stated that if the
company records the expected credit loss provision, the balance of the subscribers’
debts and the accumulated profits at the end of the first quarter of 2023 and
the first quarter of 2022, it will be decreased by JD40 million.
The cost of the decline will be lower, and the profit will
be higher by JD7 million and JD6 million for the three months, ending on March
31, 2023 and March 31, 2022.
Residential subscribers accounted for the largest share of
accumulated debts, with a total of JD195.538 million at the end of last year,
compared to the recorded JD184 million at the end of 2021.
JEPCO’s data for 2022 showed that about JD370.639 million of
accumulated debts are less than a year old, while approximately JD153.983
million are more than a year old.
The
number of subscribers in JEPCO, according to the
concession area, reached 1.583 million at the end of last year, compared to
1.55 million subscribers at the end of 2021.
A global consultancy company was contracted by JEPCO to
prepare a study to develop the company’s business in collecting subscribers’
debts and to develop and improvement plan.
After three months of work, the study showed that the
subscribers’ debts have increased due to several factors, some of which are
beyond the company’s control, and some within its control.
The study highlighted that it is possible to overcome the
effects of these factors and to strive gradually to reduce the levels of debts
over three years, starting from procedures to provide new subscription
services, improving the quality of services to subscribes, and developing meter
systems.
Read more National news
Jordan News
.jpg)
.jpg)
