Poor payment behaviour creates financial problems at utility company

WILLEMSTAD - Credible sources indicate that Aqualectra is short of cash and that is due to less consumption of electricity and water and the deteriorated payment behaviour of customers.

Zero has not been reached yet, but if the current trend continues, it will be before the end of this year. Unless drastic measures are taken that relate to the collection of the debtor balances and further cost reduction.

The corona crisis has brought about a lot, including a precarious financial situation at several companies, either due to the lockdown or due to the deteriorating economic conditions.

Especially the fact that hotels, companies and industrial customers are not operating means that the utility company expects much less sales.

The source says that the management is now taking into account that it will close the year 2020 with 8 percent less electricity sales and 1 percent less water consumption compared to 2019.

However, it is mainly the deteriorating payment behaviour of customers that affects the energy company.

The utility company says it has "already taken several cost-saving measures." However, more measures are needed to ultimately keep the company financially healthy, said the source.

Related News