Latest news with #NEPCO
Zawya
7 days ago
- Business
- Zawya
Jordan: Natural gas resumes after disruption caused by Iran-Israel war
AMMAN — A source at the National Electric Power Company (NEPCO) on Wednesday announced the resumption of natural gas supplies used for electricity generation. The source said that the flow of gas resumed after a temporary suspension caused by recent regional tensions between Israel and Iran, the Jordan News Agency, Petra, reported. The disruption began on June 17, following the precautionary shutdown of key Eastern Mediterranean gas fields amid fears of a broader regional escalation after direct exchanges of fire between Iran and Israel. As a result, gas exports to Jordan and Egypt were suspended. A ceasefire between the two countries was later announced on June 23 by US President Donald Trump. Despite the suspension of Jordan's primary source of electricity generation, the Kingdom's power supply remained stable and uninterrupted, Minister of Energy and Mineral Resources Saleh Kharabsheh recently said. The minister said the ministry had swiftly activated emergency protocols, shifting to alternative fuels such as diesel and heavy fuel oil to maintain power generation. Kharabsheh emphasised that Jordanian power plants are equipped to switch to these fuels efficiently, ensuring grid stability even under pressure. While this ensured a continuous power supply, officials noted that reliance on more expensive fuels has increased pressure on the national budget. Energy experts have confirmed that Jordan also maintains strategic fuel reserves and a floating LNG storage unit in Aqaba, which provides a critical short-term buffer.
Roya News
16-06-2025
- 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
