The Dominica Electricity Services Limited (DOMLEC) has raked in some $12.88-million in profits after tax deductions for the 2015/2016 financial year.
This indicates a five percent increase over profits made in the previous financial year, the company’s manager, Bertilia McKenzie told state-owned DBS Radio.
She said the figures were announced at the company’s Annual General Meeting (AGM) held last week.
McKenzie, stated that the meeting went well and left the shareholders were pleased with the results for 2016.
“All our key metrics which we used to measure performance indicated that DOMLEC had a successful year. We indicated to our shareholders that we had made a profit of 12.88-million dollars after tax, a five percent increase over the profit figure for 2015,” she said.
According to McKenzie, not only did profits increase by five percent, the number of sales also increased by five percent while keeping all expenses at a comfortably low level.
“We also were able to keep our expenses down as well. The sales increased, and we were able to manage our expenses quite well,” she added.
She said that customers consumed more electricity in comparison to the previous year by 4.6 percent, which is described as “excellent news for the company,” and Dominica by extension.
“This is excellent news for the country as a whole because our results indicated that our reliability to our customers increased by 42 percent, and we also had carried out a survey last year and the customers did indicate to us that our service quality also improved,” she remarked.
Next year we want double the figure. Every household is supply with a meter, we only charge you for what you used OR CONSUMED. Stay in control and be happy. GOT IT.
This revelation is frightening!! At least show us the sales by sector as follows: government, hotels, other utilities, households, manufacturing, supermarkets/shops/bars, etc.
It is quite possible that government is paying for about 40% of sales, with supermarkets and freezer oriented operations accounting for 20%, and the hotels/guest houses another 20%. I would not be surprised one bit!
Truly frightening news indeed. And, with so many “green’ options nowadays to keep operational costs down….
Domlec is a rip off. Poor service all the time. How much money is given back to Domincans.
Time for government to break that monopoly n allow the state to get into wind turbines n so forth for electricity.
Who cares about Domlec n there rip off profit… No mercy on the poor man. Alllllllll this profit in a poor country is evil n sinful
To all the people calling for government action. What makes you think the government will do a better job? We still have broken and failing bridges all over the island almost 2 years after a major disaster and hurricane season coming up yet all this CBI money flowing around. Imagine if a group this incompetent puts their hands on something as essential as power. Something needs to be done about electricity prices but I would be wary of any government involvement aside from them completing the geothermal project that they have dragging on for so many years.
Build your houses with solar panel roofs and use the sun’s power to light up your homes. DOMLEC is not the only option. Invest in one time solar energy and cut out DOMLEC altogether.
Well I don’t know about you guys…but my light bills have been going down so I don’t know. I haven’t changed anything at my home but I see like $30 -$50 decrease over the past months…so I won’t complain right now.
Hope it continues to go down…..congrats Domlec, I hope you can give back something to the customers.
Your light bill is going down because you now use candles and boohzai.
This is a clear case of the few rich shareholders becoming richer at the expense of the poor masses. All Dominicans should refuse to pay for any more electricity until this company is nationalized especially as there is no competition to regulate pricing. Such obscene profits from a small population is sheer exploitation and any decent government would not allow it to happen.
There are enough resources around that Dominicans could have some of the cheapest energy in the world which in itself could attract industrial development to the island. Is is sad that things are being so badly managed that this is not the case.
I have heard so much talk from this government and so little action that I am amazed how Dominicans have become so docile and impotent in allowing nonsense this to continue.
Rubish comment, if Domlec had made a twelve million $$ loss you would be happy and celebrating another failed Dominican institution
you mean you support a utility company making 12..almost 13 million in profit in an island of 75000 people? just to be clear you are aware that profit means they took care off all operating expenses prior to that figure…. yet you support this? tsk tsk tsk lol alas
All of you that complaining must tell ur bosses to turn off the Ac units in ur offices and open the windows.
In as much as the company made such profit the price for electricity should be reduced.
Meanwhile, the price of oil is down. that was the cry before, the surcharge. So what can your profits be attributed to this time?
consumers please do not leave electrical equipment on standby especially the tv.
It is time to get solar energy!!
The Private Sector is strictly motivated by profit. Government should be people oriented. Two services that any government should not privatize are water and electricity. To make a profit of almost $13 000 000 from an impoverished country with a relatively small population is insanely ‘avaricious ‘. The government should invest heavily in green energy- solar, geothermal, wind. Most of the population would remain impecunious as their purchasing power is being constantly undermined by the high cost of electricity.
Stop Rubbing the poor people of Dominica to boast of your ptofits you make shame on Domlice Pm you should look into that this is high way Runrie. And the poor people that paying for that our light sytem in Dominica is the highest in the caribbean alas God save Dominica please Antigua is very expensive but Dominica beat Antigua
alas Domlec on poor people back alas and you all are still proud to say that ???? will everyone is making hard sacrifices you all making all that profit hope it reflects on our bills.
It is good that profit can be made. Every business thrives on this but it is incumbent on Domlec to assist in the electrification of new areas of Development instead of charging poor people for every post, yard of line nut bolt and screw they use without even giving them the option of cutting a tree on their land in the path of the proposed lines….. MR DR PM step in and put an end to this madness the other day you claimed that you had to assist a family to bring light to their area in the tune of over $40000.00… Seriously PM. Where is DOMLES’s interest in development of the country’s housing stock, habitable areas and basic development…
The shareholders are also elated. Know that you did not make your customers happy since they pay a fair cost for electricity.
How much do shareholders get? Would this be on an annual basis or quarterly?
DOMLEC, you could afford to give your customers a discount or decrease their monthly cost. You will not operate at a loss. You will still make an annual profit.
Has always been the biggest hindrance to economic growth n development hands down!!!!
How in Gods name does a island with about 70thousand people is allowed to make that much profit from electricity , this is insane ,and how can the manager say what she said about the growth of Dominica.
That is just Madness
Big bonus……
Just like FLOW Dominica, charging Dominicans the highest prices in the caribbean for their slow broadband internet, while every other caribbean island where flow operates they offer much faster internet for much more affordable prices! At least there is digicel to save us !! Flow can fool some but not all. Domlec on the other hand, there is no competition for you yet, so keep whipping us while we are down while the world -gas- glut ensues, one day….you monopolizing people will be reporting not your gains but your losses … smh
Good management, keep it up. If DOMLEC was reporting losses many people making comments here would be happy as it would be an opportunity bash the Government and talk about an economy performing badly. We hate success in Dominica how sad.
Before I put on one switch the meter already register $20.00 so what you expect!? Away DOMLEC wicked eh!
Another Example that Dominicans not in control of their own Country..by now Gov’t should admonish DOMLEC that the light Bill must drop..or Dominicans should demonstrate and do coordinated voluntary blackouts.
Regular businesses aren’t making any profits but this Monopoly leaves the people without options and charge an arm and a leg because this is an essential service..If DOMLEC were to reduce their rates, Dominicans could have more money to support other local investments plus Dominica would become more attractive for foreign investors..Clearly Dominica’s economy would benefit more if only the Electricity charges would be reduced..Instead DOMLEC hugs all the profit and the economy struggles and poor ppl continue to cry..A people without vision will perish.
“It is not the man who has too little, but the man who craves more, that is poor. ” Seneca!!
Ok, but are they going to be handed the Geothermal on a platter, not held accountable, and hope they don’t kill it like the Hydro plant handed to them (In The Abundance Of Water) that they orchestrated the killing of our hopes for Hydro. That’s why I feel those are cooked up numbers inflated just to force gov’t to guarantee them those profits after they get the geothermal plant, (THEN KILL IT like Hydro) that supposed to save consumers on their high exhdorbitant rates? So who is going to make them accept less profit in order to save businesses and poor people on electricity with the type of poorly written contract they got previously?
My thoughts exactly Fadda, good insightful comment.
I am in no way asking people to sign a blank cheque to Domlec, but I would rather see profitable utility that provides reliable service (at a reasonable price), than one that cannot afford to maintain their equipment and the lights being rationed every day.
For those who can only complain about Domlec’s profits, perhaps you should buy shares in the company instead of hunting down every fete in the country. That is how I get my money back from the banks and other high profit companies that nickel and dime me.
EC12.88 PROFIT in an economy that is commatosed?? DNO could you please ask Athie Martin, Dr. Thomson Fontaine, Joseph Isaac to reconcile the foregoing for me please?
EC$12.88Million
Those who continuously complain that Dominica is poor, are sadly mistaken. Nothing wrong with a for profit company earning a profit on their investment. That being said, our electricity rates needs to be reduced significantly. This will be a key component of improving our foreign direct investment on the island.
Them geniuses sell the sole electrical company on the island, as if it not a gold mine… How people so foolish nuh, that does burn me eno… Blind following the blinder
How can customers benefit from this profit. You all are over charging the customers. People should be paying less for electricity.
Mr skerro what happened to the geothermal project? is it dead in the water ?, domlect use to be Dominica own, the labor party sold it to an outside company now the people are paying the price , no competition. domlec is the only game in town, who feels it knows it.
@ la po gabwit, it was the UWP that sold Domlec, get your facts straight. Stop spreading lies, or perhaps you were not yet born when Domlec was sold by the UWP.
If Domlec had reported a loss perhaps we would be rejoicing instead? Smh at this countrt.
It would be very interesting to hear the PROFITS from LIME and DIGICEL in contrast to DOMLEC in Dominica and the growth year-over-year.
They don’t make profits, they make KILLINGS ! Digi even planning to expand into the US.
Can anyone shed some light on government’s share or tax on electricity bills?
Still DOMLEC won’t ease up on the light Bill..
Why should they? They’re profiting from sucking juice out of Dominicans.
…think about it most DOMINICANS does not use electricity in the day time..well only the refrigerator and the wifi tha’ts about it..not like in the USA our homes are closed year round.we must turn on the lights every day all day..most home in dominica lights are turned off in the day time…Can someone explain to me why the light bill is still so high.country people dont use A’C OR LITTLE TO NOTHING IN ELECTRICITY
the last sentence of your comment is very insulting. What the hell you be by little or nothing in electricity???? Country people have the most expensive and well furnished houses. i suggest you take that back!!!
Your lights turned off but what of transformers? Are switches turned off when your appliances and other household items requiring use of electricity not being used? Yes Domlec, continue to kill us.
Ah Ah Ah Domlec on the lil poor ppl’s back.
And they still proud to say dat wii.
Them really wicked Star
how/why is Domlec profits increasing year after year, when the price of oil has been down for awhile now hmmmmm
Mr. DERP, You are certainly not following the price of oil on the world market per barrel, The price is incresasing and it is reflected in the price of fuel at the gas stations. Domlec has no control on the price it charge the consumer per unit of electricity. The rate charged to the cunsumer is fixed by the IRC, the government regulator.
I know a reasonable profit is expected from a business enterprise, but $12.8 million is obscene profits on the backs of poor Dominicans.
While Dominicans are conplaining the Domlec is making hugh profits, no one questions the profits made by the telephone companies. The rate Domlec charge for electricity is controlled or regulated by the IRC, that is the Regulator. Domlec has been inplementing systems to be more efficient and reduce operating cost. A few years ago the company line losses was over 18 %, now it is down to 8%, By reducing losses, is converted into increase income.
While increase energy usage can be seen as an indicator of more industrialization or development or poverty reduction, if it is measured against Gross Domestic Product (stagnant) or population size (stable) I am sure we would see that we are , in fact, becoming less efficient as energy users .. which cannot be good. Add to that our over reliance on fossil fuels to generate that power and we begin to see that we are not earning the tag ‘Nature Island’ of the Caribbean. While it is sweetly profitable for DOMLEC to be importing diesel and selling us the most expensive energy in the world , as well as the attendant pollution, carbon footprint and climate change that goes along with it ..it is important for us, the inheritors of
beautiful Waitikubuli to push and strive both for appliances and components which promote efficiency and greater use of renewables .. solar , wind, geothermal and hydro so that we can ensure our sustainable development.
Congratulations to Bertilla McKenzie and her team at DOMLEC. I am particularly pleased customer service has improved.
You talking about customer service with those long lines. One spends half an hour or more in line waiting for one\’s turn to pay and you l that customer service?I shouldn\’t have to spend more than ten minutes in line.Ten minutes is even too much
Are you also a shareholder?
Wicked
wey Domlec gie us a discount nuh for at least two months…..do it that everyone will not get it the same month
That can NEVER be right!!! Come on now my dear P.M, almost every month we hear the company speaking about increase in fuel surcharge, increase in this, increase in that, but still manages to rake that huge amount of profit in an unsteady economy like ours? Our country is known to have the highest electricity bill in the region, and the power company comes out year after year, boasting of such profits, and the government is doing nothing?! NO vital utility company should be making that much profit. Your main aim should be to provide the service, not to get rich off of poor struggling people who cant get a salary increase. That’s why such companies should be owned by the government. The amount of interest they make is even growing?! That can’t be right! Mr PM PLEASEEEE do something about this!
BTW Whats with the geothermal project thats supposed to “significantly lower electricity bills?” Why is it taking so long???
The Dominican government has apparently spent 70 million dollars on the development of geothermal electricity; and electric lines have been run between Dominica and the French Islands. Following our careful analysis, it is the opinion of this committee, that the Dominica peoples should be currently receiving free electricity; and, supplying – at a fee – electricity to the French Islands.
When considering the costs of other Geothermal plants now running in the Caribbean, it appears 70 million dollars are more than enough money to have the plant in full operation, and providing electricity to Dominica along with the French Islands. Unfortunately, from our observation, the only thing the people of Dominica have to show for spending 70 million dollars is three holes in the ground – And absolutely no geothermal electric plant!
Worse still, our investigations have led us to the conclusion that the Dominican government has “gifted”, or given away, their electric resources over to a Canadian company, emera inc (EMA:Toronto). So although Dominica paid for the development of hydroelectric power, and the resources to power the hydroelectric station come from Dominica, the lion share of the money collected by DOMLEC Power Company goes to a Canadian company. Tragically, the price for Dominica electricity is overly inflated and thereby keeping businesses from moving into Dominica! From our analysis, the reason the prices are so inflated is to spread the wealth to innumerable shareholders, and about a dozen offshore holding companies. To our knowledge, Dominicans get nothing beneficial out of the deal – Only high electricity costs and the resulting severe impediment those high utility costs convey to business development & progress on the island.
Domlec making more profits than Aid bank and National bank combined. I say fire all those bank employee and get domlec management to run.
Keep it up.
Don’t be a retarded. DOMLEC has a monopoly over the electricity provided in the country; most people don’t have a choice but to use their service. There are many banks and credit unions in the country so the competition amongst these institutions will affect the profitability of the banks!
Can someone explain how they make their profit? I don’t understand how they can make all that profit.
That is easy.
Who is checking the quantity of fuel consumed to verify the fuel surcharge?
Domlec is making profit by operating the company better and both reducing and controlling its cost. Line losses have been reduced from over 18 % to under 8 %, So the company is converting losses into income. The public should be aware that Dominican own 49 % of Domlec and the dividend paid out goes to 49 % of the shareholders. Dominica Social Security owns about 21 % of Domlec and the dividend paid out to DSS, goes back to paying DSS pensioners. For the telephone companies, there are no Dominicans to enjoy in their profits.
through the Amy
Excellent news for the company? Ok, good. So what incentive can the customers expect this year? Surely, DOMLEC can give handsomely to the community, they never report deecits!
You mean “deficit?”
yeah boast of alyou millions in profits but all i as a customer see is your company squeezing your customers and brutally over charging us as you have no competition!!!!!!wicked company. after tax deductions alyou made over 12 MILLION in profits? magway sa!!! customers did not consume more electricity as you want us to believe cause less people put up christmas lights etc. what you should have said is that we charged our customers more so we made more money.
The thing is Dominicans talk too dam much. Why not come together and properly, peacefully protest. Sacrifice a day, to not use electricity or something. Stand your ground. This is ridiculous. That’s too much profit for a company in such a small country.
And you not a shame… Think of it DOMLEC…No competition so you squeezing poor people in Dominica who need their lights, which you disconnect after one month in arrears plus disconnection fee
“Ah ma gwa sa”