COUNCIL OF MINISTERS REGULATION FOR
THE RE-ESTABLISHMENT OF THE ETHIOPIAN
ELECTRIC POWER CORPORATION
This Regulation is issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 471/2005 and Article 47(1) (a) of the Public Enterprise Proclamation No. 25/1992.
1. Short Title
This Regulation may be cited as the “Ethiopian Electric Power Corporation Re-Establishment Electric Power Corporation Re- Establishment Council of Ministers Regulation No. 170/2009.”
1. The Ethiopian Electric Power Corporation (hereinafter the “Corporation”) is hereby established as a public enterprise.
2. The Corporation shall be governed by the Public Enterprises Proclamation No. 25/1992.
3. Supervising Authority
The Ministry of Mines and Energy of the Federal Democratic Republic of Ethiopia shall be the Supervising Authority of the Corporation.
4. Head Office
The Corporation shall have its Head Office in Addis Ababa and may have branch offices elsewhere, as may be necessary.
In accordance with the economic and social development policies and programs of the government the corporation shall:
1) run the operation of generation, transmission, distribution and sell of electrical energy;
2) engages in the Construction of electricity generation, transmission, distribution, and control facilities of varying types and standards including feasibility studies, consultancy, design and survey thereof. It may procure local or international consultants from outside in the event of its inability to conduct these activities;
3) administer the operation of the National Grid within the integrated system;
4) in line with governmental direction and decision, negotiate and purchase power from independent power producers;
5) leases its transmission lines to foreign countries or leases from them same through a bilateral or multilateral agreement for purposes of cross-border electricity transmission;
6) negotiate and interconnect its power transmission lines with neighboring Countries or regional and international power pool systems for purposes of export or when necessary purchase of electricity at price to be set through inter-governmental agreement;
7) in line with directives and policy guidelines issued by Ministry of Finance and Economic Development aimed at ensuring macroeconomic stability, sells and pledges bonds, negotiate and sign loan agreements with local and international financial sources;
8) carry on any other related activities that would enable it achieve its purpose.
The authorized capital of the Corporation is Birr 38,300,000,000 (Thirty Eight Billion Three Hundred Million Birr) of which Birr 20,700,000,000 (Twenty Billion Seven Hundred Million Birr) is paid up in cash and in kind.
The Corporation shall not be liable beyond its total assets.
The Enterprise is established for an indefinite duration.
The Ethiopian Electric Power Corporation Establishment Regulation. No 18/1997 (as amended) is hereby repealed and replaced by this Regulation.
10. Transfer of Rights and Obligations
All the rights and obligations of the Ethiopian Electric Power Corporation established under Regulation No. 18/1997 (as amended) are hereby transferred to the Ethiopian Electric Power Corporation Re-established under this Regulation.
11. Effective Date
This Regulation shall come into force as of the date of its publication in the Federal Negarit Gazeta.
Done at Addis Ababa, this 12th day of February 2010
PRIME MINISTER OF THE FEDERAL
DEMOCRATIC REPUBLIC OF ETHIOPIA