The Vanuatu and Utilities Infrastructure Limited (VUI) has presented a cheque of VT8,374,613 million to the Government in the first ever concessional fee payment.
It is the first electricity concession agreement that the Government has entered into with VUI Ltd.
Minister Johnny Koanapo asknowledged VUI for honoring its obligations under the agreement and also for intervening post TC Harold in restoring the power supply in Luganville.
“It was not an easy period for the government as one of the main concerns at that time was the continuous supply of electricity to people particularly Santo to enable policies and activities planned by the government to continue and VUI has played an important role then,” he said.
VUI General Manager Peter Allen said in the last 10 years of VUI’s tenure they have continued to work together with the Department of Energy and the Utilities Regulatory Authority (URA) to connect people with electricity especially on the islands of Santo, Ambae, Maewo and Vanua Lava.
“We have three stations on Ambae, a hydro station in Maewo and two diesel stations up in Vanua Lava-As part of the new concession that’s why we had to take those on, we recently hook up 161 customers on Maewo since the establishment of Talise hydro power” he said.
Mr Allen said that the year 2020 was a tough year for the company but as part of the concession it’s their responsibility to pay the fee to the government.
According to the Concessional Deed agreement between the Government and VUI, “the Concessionaire must pay the grantor a fee comprising two percent (2%) from its Audit annual gross operating revenue for the year earned.
The 2% payment is for the year 2020 financial year since VUI entered into the concession agreement with the Government on June 19, 2019.
Photo supplied Caption: Minister of Finance, Johnny Koanapo (left) receives the cheque from VUI’s General Manager Peter Allen