Yangon Region electricity revenues up 65%

Yangon Region collected K91 billion in electricity payments for the month of July, K36 billion which is 65% increases compared to the month before according to Daw Soe Soe New, General Manager of Yangon Electricity Supply Corporation (YESC).

The Ministry of Electricity and Energy raises electricity charges on July 1 to reduce the burden of the government in subsidizing tariffs. There are still revenues even though some 1.4 million users in Yangon Region reduced usage of power by a total of 21.9 million units in July.

“We received K12 billion in electricity bills paid by households and K24 billion more from other users,” said Daw Soe Soe Nwe.
YESC data showed that 26% of users consumed 1 to 75 units per month, 38% consumed 75 to 200 units per month and 36% consumed more than 200 units per month after the change in electricity rates.

Under the new rates, electricity now costs K35 to K125 per unit for households and up to K180 per unit for commercial users.According to the data from Ministry of Electricity and Energy, the government forked out more than K 400 billion in tariff subsidies in fiscal 2016-17 and more than K600 billion in fiscal 2017-18. Subsidies are expected to exceed K500 billion in fiscal 2018-19.

To meet its target of providing electricity to the whole of Yangon Region by December 2020, the Yangon Region Government is planning to spend more than K100 billion between fiscal 2018-19 and 2020-21 to build the necessary infrastructure required, YESC officials said.

Source: The Myanmar Times