NEPCO debts reach $3.5bn
Chairman says Jordan's electricity sector outlook is 'catastrophic'
The chairman of Jordan’s National Electric Power Co. (NEPCO), Malak Kabariti, has said that the country’s current use of fuel storage for electricity generation is at a “critical rate”, requiring a need for programmed blackouts to cope with the current deficit.
In a press conference, Kabariti said that there was a need to increase the prices of electricity to cope with the price difference of fuel to run the country’s power plants. The company’s debts resulting from supporting the deficit amounts to US $3.5 billion, with $2.64 billion in bank loans.
Jordan is currently engaged in efforts to develop its oil shale deposits to use for power generation, with a consortium involving an Estonian/Malaysian consortium currently tendering for a 460MW plant. Blocks of shale deposits around the country are open to anybody for analysis, and NEPCO is hopeful that it will be able to make a significant contribution to meeting energy needs.
Jordan currently imports 98% of its energy needs for abroad, and has a generating capacity of around 3,000 MW.