Latest news with #NEPCO
Roya News
5 days ago
- Business
- Roya News
'Israel'-Iran trading blows costing Jordan one million dinars per day from gas shortage: sources
Government sources spoke to Roya about the massive toll on Jordan's electricity sector amid the recent military escalation between Iran and 'Israel'. The suspension of natural gas flows resulted in estimated daily losses of JD 1 million incurred by the National Electric Power Company (NEPCO). Despite the financial strain, NEPCO confirmed that Jordan is not experiencing any power outages. The company emphasized that its emergency measures announced earlier today are aimed at maintaining uninterrupted electricity supply across the country. NEPCO's emergency plan In a statement issued Monday, NEPCO announced it had activated its emergency plan in response to a significant drop in natural gas supplies, an outcome of the ongoing regional tensions. One of the plan's immediate steps included the temporary suspension of gas supplies to factories connected to the country's main gas network. The company described the suspension as a precautionary measure aligned with the national gas distribution priorities outlined in the emergency strategy. NEPCO stressed that the suspension is temporary and will be reassessed once regional conditions stabilize and gas flows resume. One million dinars per day: The cost of halted gas supplies Jordan's power plants rely heavily on natural gas as their primary energy source. Government sources stated that the disruption in supply has forced power plants to switch to more expensive alternatives, such as diesel or heavy fuel oil, in order to maintain consistent electricity production and meet domestic demand. This switch has led to a sharp increase in operating costs, with NEPCO incurring around JD1 million in additional expenses every day, placing further pressure on the national budget amid already challenging economic conditions.
Zawya
05-06-2025
- Business
- Zawya
Jordan: NEPCO reports 5.8% rise in purchased, sold electricity in 2024
AMMAN — The National Electric Power Company (NEPCO) announced on Tuesday that it witnessed an increase of 5.8 per cent in terms of purchased and sold electricity between 2023 and 2024. The total volume of purchased electricity reached 22,723 gigawatt-hours (GWh) in 2024, marking an increase from 21,473GWh the previous year, the Jordan News Agency, Petra, reported. This increase was driven by a 22.8 per cent surge in electricity from the Al Attarat oil shale project, a 7.5 per cent increase in renewable energy contributions, and a slight 0.2 per cent rise from conventional generation sources. Purchases from other sources, including the King Talal Dam and the Indo-Jordan Chemicals Company, decreased by 3.5 per cent, NEPCO said. Electricity sales climbed to 22,323GWh in 2024, an increase from 21,105GWh in 2023, with distribution companies accounting for a 5.5 per cent increase in sales. Sales to industrial consumers, including the extractive, transformative, and electric power sectors, rose by 7.2 per cent, while sales to other customers, such as the airport, state television, radio and others, grew by 2.8 per cent. NEPCO's report also noted a slight decrease of 0.9 per cent in electricity imports from Egypt, falling from 266.4 to 264.0 megawatt-hours. The figures also showed that exports surged by 32.6 per cent, reaching 265.8 megawatt-hours. This increase was due to higher exports to the Jerusalem District Electricity Company, the Trebil border station in Iraq, and the General Company for Electricity Transmission in Iraq. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
22-05-2025
- Business
- Zawya
Jordan: Public debt rises to $40bln by March, driven by Eurobond repayment strategy
AMMAN — The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product (GDP), excluding holdings by the Social Security Investment Fund (SSIF). This figure marks an increase from JD34.178 billion recorded at the end of 2024, or 90.2 per cent of GDP, and includes liabilities from the National Electric Power Company (NEPCO) and the Water Authority totalling around JD8.8 billion, the Jordan News Agency, Petra, reported. According to the Ministry of Finance's monthly bulletin announced on Wednesday, the "temporary" rise in debt is primarily due to the government securing soft loans at "competitive" interest rates, which were deposited with the Central Bank of Jordan (CBJ) to repay Eurobonds maturing in June. The external public debt, including budget and guaranteed, excluding the SSIF's holdings, reached approximately JD19.6 billion by the end of March, which is equivalent to 51.2 per cent of the GDP compared with JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 per cent of the GDP, up from JD14.8 billion (39.2 per cent) at the close of last year. In terms of servicing external debt, interest payments in March amounted to JD24.4 million, while principal repayments reached JD56 million. On fiscal performance, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 per cent) compared with JD2.060 billion during the same period last year. In addition, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 per cent). This increase was driven by "higher" current expenditures (up JD147 million or 6.2 per cent) and a "significant" rise in capital expenditures (up JD65 million or 65.2 per cent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared with JD428.8 million during the first quarter of 2024. Before accounting for grants, the deficit reached JD540.4 million, up from JD478.3 million for the same period last year. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
21-05-2025
- Business
- Jordan Times
Public debt rises to JD35.08b by March, driven by Eurobond repayment strategy
Government debt reaches JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product, excluding holdings by the Social Security Investment Fund (Petra photo) AMMAN — The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product (GDP), excluding holdings by the Social Security Investment Fund (SSIF). This figure marks an increase from JD34.178 billion recorded at the end of 2024, or 90.2 per cent of GDP, and includes liabilities from the National Electric Power Company (NEPCO) and the Water Authority totalling around JD8.8 billion, the Jordan News Agency, Petra, reported. According to the Ministry of Finance's monthly bulletin announced on Wednesday, the "temporary" rise in debt is primarily due to the government securing soft loans at "competitive" interest rates, which were deposited with the Central Bank of Jordan (CBJ) to repay Eurobonds maturing in June. The external public debt, including budget and guaranteed, excluding the SSIF's holdings, reached approximately JD19.6 billion by the end of March, which is equivalent to 51.2 per cent of the GDP compared with JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 per cent of the GDP, up from JD14.8 billion (39.2 per cent) at the close of last year. In terms of servicing external debt, interest payments in March amounted to JD24.4 million, while principal repayments reached JD56 million. On fiscal performance, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 per cent) compared with JD2.060 billion during the same period last year. In addition, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 per cent). This increase was driven by "higher" current expenditures (up JD147 million or 6.2 per cent) and a "significant" rise in capital expenditures (up JD65 million or 65.2 per cent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared with JD428.8 million during the first quarter of 2024. Before accounting for grants, the deficit reached JD540.4 million, up from JD478.3 million for the same period last year. Page 2
Rudaw Net
16-05-2025
- Business
- Rudaw Net
Jordan to supply Iraq's electrical grid with 150-200 MW by August
Also in Iraq Iraq begins registering land for Development Road Green Climate Fund approves Iraq's $1.3bn climate program Iraqi electoral body to open candidate registration May 25 Over 100 public figures denounce trial of Kirkuk Kurdish farmer as 'political' A+ A- ERBIL, Kurdistan Region - Jordan's state-owned electricity provider said the second phase of a project to supply Iraq with power is nearing completion and is expected to deliver 150-200 megawatts by August, as Baghdad races to ease summer shortages. 'The project is nearing completion at this stage and is expected to supply the Iraqi side with about 150-200 megawatts,' said Sofian al-Bataineh, the director of the Jordanian National Electric Power Company (NEPCO), state media Petra reported. Petra said NEPCO is increasing efforts to complete the phase in August. In February 2024, Jordan signed an agreement to supply electricity to Iraq, building on a foundation laid in October 2022. On Thursday, Ahmed Mousa, spokesperson for Iraq's electricity ministry, told Rudaw that the first stage of the project has been completed and currently provides 54 megawatts to Anbar. Third and fourth stages are planned. 'The third phase of the project will reach 350 megawatts of electricity, and then we will discuss the fourth phase, which is to connect the power line between Egypt, Jordan and Iraq,' Mousa said. According to Petra, the project will eventually reach 500 megawatts. Despite its vast oil and gas reserves, Iraq suffers from chronic electricity shortages. At times, especially during the hot summer months, the supply is able to meet only about half the demand. In addition to Jordan, the electricity ministry is working with Gulf countries and Turkey to boost the power supply. In April, the ministry announced it was in talks with Turkey and had signed a contract to double its electricity imports from 300 megawatts to 600 megawatts. For years, Iraq has relied on gas imports from Iran to run its power plants, putting its power grid at the mercy of sanctions waivers from the United States and leaving it vulnerable to periodic cuts in the supply by Iran.
