ERA Consults Stakeholders on the Uniform System of Accounts
- Hits: 653
The Electricity Regulatory Authority (ERA) on 11th September 2018, consulted the companies licensed to Generate, Transmit, and Distribute electricity in Uganda on the Uniform System of Accounts (USoA).
The Authority is currently in the process of developing the Uniform System of Accounts, as mandated by Section 10 (k) of the Electricity Act, 1999. The USoA will provide uniform presentation of information submitted by the Licensed Companies to the Authority, which is essential for understanding the cost of providing services in the Electricity Supply Industry, and fairly and reasonably determining Electricity Tariffs.
Once completed and successfully implemented, the Uniform System of Accounts will present various benefits to the Electricity Supply Industry; including heightening of Transparency, Standardization of Reporting, Comparison of performance of ERA’s Licensed Companies, and ease of the Tariff Determination process.
The development of the Uniform System of Accounts for the Electricity Supply Industry in Uganda is facilitated by the National Association of Regulatory Utility Commissioners (NARUC), supported by the United States Agency for International Development (USAID).
The consultative meeting was attended by several companies operating in the Electricity Supply Industry in the Generation, Transmission, and Distribution segments, and representatives from the Institute of Certified Public Accountants of Uganda, and the Audit Firm – KPMG.
The Authority will roll out the Uniform System of Accounts at the start of 2019. Currently, the National Energy Regulator of South Africa (NERSA) is the only Regulatory Body that has implemented the USoA on the Continent of Africa.