AMMAN – The Electricity Distribution Company (EDCO) reported a net profit after tax of JD15 million for 2024, up from JD10.55 million in 2023, according to financial statements disclosed during the company’s ordinary and extraordinary general assembly meeting.
By the end of 2024, the company’s total assets had reached approximately JD972 million, compared to JD792 million at the close of 2023, as reported by the Jordan News Agency, Petra, on Monday.
The meeting, attended by EDCO Chairman Hazem Rahahleh and General Manager Reem Hamdan, reviewed the company’s progress in 2024, highlighting its vital role in supplying electricity, a strategic commodity essential to various sectors. The company also focused on ensuring power continuity, reducing outages, and adhering to performance standards set by the Energy and Minerals Regulatory Commission.
The General Assembly unanimously approved increasing EDCO’s capital by JD4 million, raising it from JD21 million to JD25 million. The increase will be distributed as free shares to shareholders in proportion to their holdings, funded through retained earnings. Amendments to the company’s articles of association and bylaws reflecting the capital increase were also ratified.
EDCO also reported significant progress in its digital transformation initiatives, which include the implementation of an enterprise resource planning (ERP) system using the SAPS/4HANA platform. This system aims to integrate data and accelerate decision-making. Additionally, the company is working on upgrading its human resources management system and adopting process automation to improve employee engagement.
In terms of e-governance, EDCO adopted the Intalio platform to manage electronic correspondence, streamlining internal communication and reducing paper usage. A dedicated cybersecurity unit was also established, equipped with skilled personnel and advanced systems, including a cybersecurity operations center and Security Information and Event Management (SIEM) systems, to protect data and enhance digital readiness.
Other initiatives include the launch of a smart electronic subscriber application and a 24/7 automated response center (113) to improve service delivery and response times. EDCO also modernized its subscriber service and field offices, aligning them with the corporate identity. This resulted in tangible improvements, including a 0.5% reduction in electricity loss and an increase in the collection rate of regular subscribers’ bills to over 100%.
Chairman Hazem Rahahleh emphasized the company’s commitment to advancing strategic plans that enhance operational efficiency and transition to a smart utility framework supported by cutting-edge infrastructure. He noted that providing high-quality electricity services remains a cornerstone for supporting the national economy and sustaining productive and service sectors.
General Manager Reem Hamdan credited EDCO’s success to the dedication and teamwork of its employees, emphasizing the company’s vision of becoming a fully digital institution that delivers efficient, responsive, and customer-focused services. She highlighted how digital initiatives, such as the SAPS/4HANA platform, the subscriber app, and the automated response center, have improved service quality and communication, marking a significant leap in customer relations.
