NEDC emerges as Oman's largest power utility
Muscat: Nama Electricity Distribution Company (NEDC), the Sultanate of Oman's national distribution utility with a mandate covering all of Oman except Dhofar Governorate, now manages assets exceeding RO 2 billion — positioning it as the largest power sector utility in the country.
Wholly state-owned NEDC – part of Nama Group – grew out of the merger of multiple distribution companies following a 2022 decision by the Authority for Public Services Regulation (APSR) to restructure the sector.
Licensed to carry out electricity distribution management and related activities across all governments excluding Dhofar, NEDC has seen its portfolio expand to around 1.35 million customers at the end of 2024.
Overseeing the delivery of services across Dhofar Governorate is Nama Dhofar Services – also part of Nama Group – but structured as an integrated provider of electricity, water and wastewater services in this southern governorate of Oman.
According to NEDC CEO Ala Hassan Moosa, 2024 was a 'transformative milestone' for the utility.
'NEDC has solidified its position as the nation's leading electricity distribution company, with assets surpassing RO 2.24 billion.
In alignment with Oman Vision 2040 and the priorities of Oman Investment Authority (OIA), our strategy is founded on key obligations and principles shaped by regulatory priorities, shareholder expectations, and government aspirations for growth and collaboration, ' he stated in the company's newly published 2024 Annual Report.
Significantly, NEDC's financial performance remained robust in 2024, the CEO noted. Of total revenues of RO 307.36 million, the gross profit amounted to RO 151.732 million, while EBITDA was recorded at RO 193.94 million.
Meanwhile, infrastructure and technology investments continued apace in 2024 in line with NEDC's goal to ensure a reliable and future-ready network.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
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