In Tunisia, the national electric company, STEG has a shortfall of $ 764 million in the collection of its bills according to its supervisory ministry. A sum due, in large part by households and SMEs, which mainly contribute to the financial deficit of the company.
Unpaid debts to the Tunisian Electricity and Gas Company (STEG) amounted to 2.16 billion dinars, or $ 764 million as of May 31, 2020. This amount is 47.3% due by households and small businesses, 19.9% by public establishments and 17.8% by administrations according to figures communicated by the Ministry of Energy, Mines and Energy Transition.
According to the organization, the unpaid bills of companies in the industrial sector amount to 91.2 million dinars ($ 32 million) or 4.2% of the total amounts due. Local authorities, for their part, hold 6.6% of unpaid debts.
Recently, the STEG announced that it will reach financial balance in 2025. For the moment, it still depends on a grant of $ 700 million, allocated by the government to meet all of its obligations. Besides unpaid bills, the price of electricity, which is 25% lower than its production cost, is one of the main reasons for the organization’s financial imbalance.
Source: Agence Ecofin