5 3. The financial Fuel at both Upolu performance of EPC Audit‟s and Savaii improves Generation Stations introduced 1 May 2008 Consistent application and now routinely of disconnection conducted monthly. policy Results reported monthly to Board. REPORT Q3 2012 Fuel audits conducted AVERAGE. on all diesel EPC‟s power stations Tariff Increase of 10% from 1 September 2008 incorporated in FY 2009 approved Budget not yet implemented – Timeliness of tariff implementation now adjustments in anticipated as 1st response to cost January 2009. collection on 3rd Quarter of 2012 were: EPC‟s Customers‟ arrears performance improves Debtor days as = 45.5 such that accounts days receivables are below 2 % Government Debt (of total debt) = 4.27% months of sales % Government Sales (of total sales) = 9.29% Government of consumers‟ share accounts EPC‟s receivables reduced from 55% in 2007 to less than their share of total sales by 31 December 2009 03 Procedures reviewed in August 2008 and revised procedures implemented. ACCOUNTS AGING.
3. The financial performance of EPC improves Consistent application of disconnection policy Fuel audits conducted on all EPC‟s diesel power stations Timeliness of tariff adjustments in response to cost EPC‟s collection performance improves such that accounts receivables are below 2 months of sales Government consumers‟ share of EPC‟s accounts receivables reduced from 55% in 2007 to less than their share of total sales by 31 December 2009 Procedures reviewed in August 2008 and revised procedures implemented. ACCOUNTS AGING. Fuel Audit‟s at both Upolu and Savaii Generation Stations introduced 1 May 2008 and now routinely conducted monthly. Results reported monthly to Board. REPORT Q3 2012 AVERAGE. Tariff Increase of 10% from 1 September 2008 incorporated in FY 2009 approved Budget not yet implemented – implementation now anticipated as 1st January 2009. Customers‟ arrears on 3rd Quarter of 2012 were: Debtor days as = 45.5 days % Government Debt (of total debt) = 4.27% % Government Sales (of total sales) = 9.29% 5 03
psep-progress-report-3rd-qtr-2012.docx