Electricity of Lebanon responded to the personal statement of the governor of the Banque du Liban who estimated yesterday that for the month of July 2021, the BdL would have approved 293 million dollars of new lines of credit requested, 415 million dollars of lines of credit previously presented, the 2 for the population and 120 million for the benefit of Electricité du Liban. He was thus attempting to exonerate any role he might have had in the current shortage of public electricity.
The EDL thus estimates by a press release also that Lebanon could face a total cut of the production of electricity due to the refusal of the Bank of Lebanon to allow the exchange of the Lebanese pounds of the subscriptions of its customers in dollars in order to to cover the purchase of spare parts, chemical materials and the payment of sums due for the rental of the 2 electricity production barges. Also, the institution indicates that it is unable for the time being to carry out maintenance work on its production and distribution tool.
This refusal would intervene despite the regulations in place and the law which obliges the central bank to allow the purchase of foreign currencies in case of need.
The EDL indicates that it is doing its best to maintain electricity production with the means currently available to it and thus also maintain a minimum power supply of 800 megawatts out of a maximum capacity of 2000 megawat due to current economic, monetary and financial conditions.
Current production is currently mainly supplied by the Al Zahrani power station, for only 4 hours per day.
Therefore, EDL warns of a dangerous phase, inducing a general interruption of electricity production, if things continue as they are, especially if hard currency cannot be provided to secure the facilities.