By 
By Delisa Thwala
In the Financial Year 2023/24, The Eswatini Energy Regulatory Authority (ESERA) received a total income of E49.23 million, a 4% increase from the previous fiscal year.
Majority of the income received, E44.13 million, was from license fees, similar to the amount received last year.
All income received was used for operations as no excess funds were recorded at the end of the financial year.
This is according to the organisation’s report, where it mentions that the year has been marked by significant progress and pivotal achievements in our commitment to ensuring a stable, efficient, and vibrant energy sector in Eswatini.
“In FY2023/24, the Authority received a total income of E49.23 million, a 4% increase from the previous fiscal year. Majority of the income received, E44.13 million, was from license fees, similar to the amount received last year,” reads the report in part.
Meanwhile ESERA CEO Sikhumbuzo Tsabedze said all income received was used for operations as no excess funds were recorded at the end of the financial year.
He said, a successful audit was conducted with detailed audit report included at the end of this report. Overall, the financial performance for FY2023/24 reflects a stable outlook moving forward.
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“During the year, the Authority completed various regulatory initiatives. The Grid Code was revised to incorporate changes in the electricity sector and inclusion,” he said.
Worth mentioning is that, the Eswatini Energy Regulatory Authority (ESERA) is the regulatory body responsible for overseeing the energy sector in Eswatini.
Established under the Energy Regulatory Act of 2007, ESERA plays a crucial role in ensuring efficiency, sustainability, and fairness within the energy industry.
The Authority is mandated to administer
the electricity supply industry in terms of the Electricity Act, 2007 and is also mandated to regulate downstream petroleum sector in terms of the Petroleum Act of 2020 of the private sector with support from GET Transform.
One of the key changes is the addition of the Distribution Code as it was important to set rules at that level as well.
The Authority finalised the review of the Quality of performance Supply and Service Standards which are critical to guide and monitor compliance of licensees in the Electricity Supply Industry (ESI).
The report further states that, the Authority relies solely on license fees as its source of funding.
During the 2023/24 fiscal year, it collected E44.13 million in license fees, which is similar to the previous year’s amount of E44.10 million. The organization observed a consistent increment in their collection throughout this period.
Electricity-licensed entities were charged at a rate that stayed constant from prior years: 1% against total revenue requirements; while petroleum establishments paid out E0.02 for each litre sold of fuel.
In the previous year, ESERA had a surplus of E0.598 million whereas in the financial year 2023/24 there were no excess funds. The budgeted license fees could not be fully recuperated by the Authority.
RELATED: 62.4% increase in ESERA licence fees revenue
In the fiscal year 2023/24, a total income of E49.2 million was attained which showed an improvement from E47.3 million earned in the preceding fiscal period.
Nonetheless, operational expenses for the Authority amounted to E46.7 and E49.2 million during 2022–23 and 2023–24 respectively. Furthermore, ESERA had non-current assets amounting to E9.8 million and current assets valued at E8.6 million, with current liabilities amounting to E3.3 million.
An Audit Report was issued by the Auditors for the financial year 2023/24, stating that it is unqualified. The attached financial statements provide a comprehensive presentation of the Authority’s fiscal outcome.
