Walid El Bahnasawy
In the fiscal year of 2019, PGESCO achieved 80% increase in the profitability target; even though the revenues didn’t meet the set target.
An official from the company stated that the profit enhancement was attained after a spending rationalization plan and a growth in the human element efficiency while implementing the projects.
Moreover, The official pointed out that the company had established a national network during the year ending at about 2010 MW, following the entry into commercial operation of the three South Helwan steam units with high efficiency.
On the other hand, PGESCO submitted a study of the tariffs it had prepared for the South Electricity Company in Iraq for review before being approved by the Iraqi company and halted the security and political situation 4 of the company’s projects, including simple and combined terminals in Baghdad, North and South, due to the serious political situation and the absence of the official government.
