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Regulation No.170f2009

Ethiopian Electric Power Corporalion Re·Establistlment

Council of Ministers Regulation ........... _ ..... Page 5109

COUNCIL OF MINISTERS REGULATION No,17012QQ9

COUNCIL OF MINISTERS REGULATION fOR THE RE·ESTB U SHMENI OFTHE ETH IOPIAN

ELECTRIC POWER CORPORATION This Regulation is issued b)' the Council of Ministers pursuant to Article 5 of the Definition of Powel'$ 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 Regul3lion m3Y be dted as the "Ethiopian Electric Power Corporation Re- Establishment COllndl of Ministers Regulatioll No. 170/20fl . ..

2, Es'ahfi.~hm .. nt

l. The Ethiopian Electric POWeT Corporation (hereinafler the "Corporation") is hereby estab1i$hed as a public enterprise.

2. Thc Corporation shall be governed by the Public Enterprises Pnx:lamation No. 25/1992.

J, $uptn'bfinl( Authority

The Ministry of Mines and Energy of the Federal Democratic Republic of Ethiopia shall be the Supervising Authority of the Corporation.

4. /feud Office

The Corporation shall have its lIead Office in Addis Ababa and may have branch offices elsewhere. as may be necessary.

~?/.} ? tV't 7· ... ' .-r. 'j{'i'lli Negarit Gazda P.O.box 80,001

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5. Pumose

In accordance with the economic and social development policies and programs of the government the corporation shall:

!) 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 \larying types and standards including feasibility studies, consultancy, design and survey thereof. It may prOC\Jre 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 systtm;

4) in line with governmental direction and decision. negotiate and purchase power

from independent power producers;

5) leases its tranSmISSiOn lines to foreign countries OJ' leases from them same through .a bilateral or multilateral agreement for purposes of cross-border electricity

transmission;

6) negotiate and interwnnect 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-govemmtntal 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, negoriate and sign loan agreements with

local and international financial sources;

8) carryon any other related activities thai would enable it achieve its purpose.

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1K' ?;7i •. nji~~/.·l\ '1;Jt-}. ;JILiT} cf:'l'C 9. fI,-':-}· l; ",'J JtliJl ~.r. Federal Negarit Gazeta_ No.4 February 12th 2010 Page 5111

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6. Capital

The authorized capital of the Corporation is Birr

38,300,000,000 (Thirty Eight Billion Three Hundred

Million Birr) of which Birr 20,700,000,0,00 (Twenty

Billion Seven Hundred Million Birr) is paid up in cash

and in kind.

7.Liability

The Corporation shall not be liable beyond its total assets.

8. Duration

The Enterprise is established for an indefinite duration.

9. Repeal

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 l2'h day of February

2010

MELES ZENAWI PRIME MINISTER OF THE FEDERAL

DEMOCRATIC REPUBLIC OF ETHIOPIA

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