Algeria’s national electricity and gas group Sonelgaz’s CEO, Mustapha Gouitouni , reassured customers that no increase in the prices of electricity and gas is scheduled during the remainder of 2016, All Africa reported.
Guitouni said that Sonelgaz has adopted rigorous measures to collect its dues from institutions and companies, which reached over $548m nationwide. Guitouni gave instructions to central managers and managers of commercial branches to collect debts according to a well-defined calendar, as the non-payment of debts by customers undermines the implementation of the group’s investments projects, according to Algeria Times.
Guitouni’s comments came on the sidelines of a meeting with executives of Sonelgaz in Algiers. During the meeting, he also announced the implementation of many projects is underway, mainly the renovation of electricity and gas network, e-payment and digitalization of meters.
Egypt Oil&Gas had reported earlier that the North African nation has been taking strict measures to adapt to falling income, with foreign exchange reserves expected to drop to $116b by the end of 2016 due to the low crude prices that hit Algeria’s economy.