Ethiopia Electric Power (EEP) reported revenues of 26.8 billion birr in the first quarter of the 2024/25 fiscal year, driven by strong domestic demand and increased electricity exports to neighbouring countries. The figure exceeds the utility’s quarterly target of 24.9 billion birr, with total earnings projected to reach 27 billion birr once accounts are finalised.

The company sold 7.88 terawatt-hours of electricity during the three-month period, generating 10.1 billion birr in domestic sales and 117.1 million US dollars in foreign exchange earnings. Compared with the same period last year, EEP’s total revenue grew by 96 percent, while overall power sales expanded by 47 percent.

About 93 percent of total electricity supplied went to local customers, with the remaining 7 percent exported to neighbouring markets. Of domestic sales, the Ethiopian Electric Service accounted for 53.6 percent, technology companies 34.6 percent, and high-voltage industrial clients 4.6 percent.

Kenya and Tanzania together represented 4.6 percent of total electricity exports, while Djibouti took 2.2 percent, according to Engineer Andualem Sia, Deputy Chief Executive Officer for the Transmission Business Unit.