We have levied a surcharge to service part of the facility, and the tariff adjustments will be sufficient to fully service the remainder of the debt, the government added.
Despite recent tariff adjustments, electricity subsidisation is still an expensive budget item, with the middle- and upper-income groups the main beneficiaries.
Government subsequently introduced initiatives such as the special energy levies, automatic tariff adjustments and elimination of subsidies aimed at restructuring the companies, paying off their debts and making them viable.
The company annually proposes to the regulator electricity tariffs for end-users; in previous years, the regulatory and political interference affected the tariff adjustment process.