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16 APRIL 2021 AL CIRCLE

Alucam’s electricity bills remain unsettled since mid-2020, says ENEO Cameroon SA

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

Eric Mansuy, the Director-General of the Cameroonian electricity company, ENEO Cameroon SA, has reported that the Aluminium Company of Cameroon, Alucam, has not paid electricity bills since mid-2020. Alucam has been countering serious difficulties for some time now.

Alucam’s electricity bills remain unsettled since mid-2020

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“This difficulty for the aluminium juggernaut to pay its electricity bills for about 9 months (at the end of March 2021) further increases its debt to its partner. It impacts Eneo's ability to pay other operators in the sector”, says Eric Mansuy.

The volume of Alucam's debt to the electricity supplier, Eneo since mid-2020 has not been revealed. But, from sources familiar with the matter, the average monthly consumption of this aluminium producer is around FCFA 2 billion. Referred to only six months of unpaid corresponding to 2nd half 2020, this represents about FCFA 12 billion.

Eric added: “We must add the debt of FCFA 40 billion as of 31st December 2019, which was the subject of a validation contract signed at the beginning of 2020 between Eneo and this company in difficulties since the end of 2014, with the departure of Rio Tinto, its former strategic partner.”

As of April 2021, Eneo is claiming from Alucam around FCFA 52 billion in unpaid invoices.  This slag off could have been heavier if the difficulties faced by Alucam had not led this company to gradually minimize its production and hence its electricity consumption. Indeed, our sources have informed us, the energy consumption of the aluminium conglomerate has fallen to 130 MW on average per month since 2019, against 200 MW previously.

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Delivering some relief to Alucam, the State of Cameroon, which has become the sole shareholder of this aluminium company, since the retrocession of formerly held by Rio Tinto, has initiated a process of taking over the debt owed to Eneo.

However, this process is ‘on track’ as specified by the Director-General of the company producing and distributing electricity in Cameroon.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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