FENAKA: Will be in loss if price reduced on electricity in the atolls to Malé rate

Managing Director of FENAKA Corporation, Ahmed Shareef has said that if same rate for electricity in Malé City is used in the atolls, they would be making a huge loss.

The Managing Director of FENAKA along with the Managing Director of STELCO, Ahmed Zuhoor, Managing Director of MWSC, Fazul Rasheed and the Environment Minister, Thoriq Ibrahim was summoned to the Parliament Committee today after case was filed with the price of electricity and water in Addu City are higher than the capital, Malé City.

Speaking at the committee, Shareef said that FENAKA provides services to 52,596 with a total of 148 generators.

He said that if the the price is reduced to the same as the capital, Malé, 41 million will be cut off from the tariff.

Shareef said that FENAKA Corporation has the biggest energy operation in the country and the price of electricity has not gone up, but the usage has.

The Managing Director of FENAKA said that the use of electricity is higher on hotter days and so in those days, the electric bill will be bigger.

FENAKA Corporation said that they have a low-spending plan in use and the first thing is reducing the administrative cost.

With 50 percent of revenues being spent of fuel, Shareef said that they are working to establish a mechanism to use fuel efficiently and so flow meters are being installed on the generators.

Shareef said that a large portion of the monthly revenues also go to repair the old generations used in the island.