Logo of Phnom Penh Post newspaper Phnom Penh Post - Lao state-run electricity firm eyes success after recent years’ challenges

Lao state-run electricity firm eyes success after recent years’ challenges

Content image - Phnom Penh Post
The electricity sector is a key contributor to Laos' economy. EDL

Lao state-run electricity firm eyes success after recent years’ challenges

Electricite du Laos (EdL) is aiming to significantly reduce expenditure in 2022 compared to 2021 in a bid to support government efforts to tackle economic and financial difficulties and stabilise macroeconomic growth.

Addressing the company’s annual meeting at its headquarters in Vientiane on February 11, managing director Chanthaboun Soukaloun said the region and the whole world were facing challenges in relation to the Covid-19 pandemic. However, the Lao government is slowly relaxing restrictions to revitalise the economy under new normal practices.

“In recent years, EdL has faced challenges in numerous ways but the government is working alongside us through consultations while EdL is preparing to make sweeping reforms to achieve the goals set for state-owned enterprises,” Chanthaboun said, adding that the efficient management of revenue and expenditure was a top priority.

“The focus is now on modernised and centralised management so that we can make adjustments in keeping with changes in the socio-economic situation,” he said.

Chanthaboun added that to achieve energy stability EdL would continue to explore mixed forms of energy and power-sharing schemes, and utilise all types of energy.

The company will share sources of energy with other countries to avoid being overly heavily dependent on hydropower and other types of energy or involvement with countries that pose a risk to energy stability.

In addition, EdL will address technical failures in electricity generation, bolster measures to prevent the theft of energy, improve services during times of electricity failure, increase revenue generation, and set common indicators for work performance among employees.

During the meeting, EdL presented certificates of honour and other awards to retired employees and handed over certificates of congratulations to the company’s Youth Union.

At the close of the meeting, Minister of Energy and Mines Dr Daovong Phonekeo praised the management of EdL for their leadership during the Covid-19 crisis.

“Although Laos has faced challenges in recent years, the energy and mining sector remains a major contributor to economic growth. Income generated last year exceeded 41.289 trillion kip [$3.6 billion], an increase of 33 per cent compared to 2020. This figure surpassed the target set for 2021 by 10 per cent.

“This year the energy and mining sector will strive to fulfil the national agenda to address economic and financial difficulties, in which EdL will be given a crucial duty to perform robustly,” he said.

The electricity sector is a key contributor to the economy and will play a strong role in supporting the resolution adopted by the 11th Congress of the Lao People’s Revolutionary Party and the five-year National Socio-Economic Development Plan for 2021-2025, as well as the national agenda to overcome the current economic crisis.

Laos has 88 electricity generation facilities comprising 75 hydropower plants, one coal-powered plant, four biomass plants and eight solar energy plants.

These power plants have a combined installed capacity of 10,672MW and a generating capacity of 54,967 million KWh, while electricity transmission lines run for 67,643km across the country, according to figures revealed on EdL’s 60th anniversary last year.

VIENTIANE TIMES/ASIA NEWS NETWORK

MOST VIEWED

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Honda shutters Siem Reap football club

    Japanese football legend Keisuke Honda, the owner of Siem Reap football club Soltilo Angkor FC, has been forced to shut the club down, after it failed to attract sponsorship for the upcoming season. Honda, the former manager of the Cambodia men's national football team, said

  • Hun Sen warns of regional tensions

    ASIA is becoming a dangerous geopolitical hotspot, with several countries announcing that they intend to send naval vessels towards Southeast Asia and on to the South China Sea, warned Prime Minister Hun Sen. “Heated geopolitical issues can easily escalate, namely to war. I am not

  • PM declares ASEAN Para Games open

    The 12th ASEAN Para Games officially kicked off on the evening of June 3 at Morodok Techo National Stadium in Phnom Penh, with a spectacular opening ceremony featuring fireworks and performances by some of the Kingdom’s most accomplished talents. Tens of thousands of sports fans