Electricity bill payments have so far been better than expected in May and are on the rise following shock results recorded in previous months, during the full-scale lockdown.
Worst-case supplier revenue scenarios for the month have so far been avoided, but it is still too early to tell as the majority of consumer payments are due at the end of the month.
For the time being, rebounding electricity bill collection records are gradually approaching pre-crisis levels. Electricity bill payments are generally down by about 10 percent at present, compared to a 30 percent slump amid the heart of the lockdown.
Power utility PPC is already improving on its electricity-bill revenue decline of 9 percent in April following a major slump of between 25 to 30 percent in the second half of March.
Electricity bill collection figures at independent electricity suppliers are also moving upwards and are presently about 10 percent below pre-crisis levels, energypress sources informed.
Suppliers with high exposure to business and professional clienteles have been hit especially hard as these consumer groups were grounded during the full-scale lockdown in March and April.
Revenue losses have been milder for suppliers focused more on household consumers. Their revenue losses are in single-digit territory.
The full extent of the pandemic’s damage on electricity supplier revenues will become clearer once the economy is fully relaunched and the government’s support measures reach an end.
An anticipated unemployment spike over the next few months will negatively impact electricity-bill collection records.
Also, a subdued summer for the country’s pivotal tourism industry will hurt electricity supplier revenues, traditionally boosted during the second half of the year as a result of heightened tourism-related business.
Suppliers may end up needing to resort to emergency cash support through low-interest bank loans, support mechanisms and other financial tools if it turns out to be a bleak summer, as is feared.