These regulations are issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 4/1995 and Article 47(1) (a) of the public Enterprises Proclamation No. 25/1992.
These Regulations may be cited as the “Ethiopian Electric Power Corporation Establishment Regulations No. 18/1997”
1. There is hereby established the Ethiopian Electric Power Corporation (hereinafter the “Corporation”) as a public enterprise.
2. The Corporation shall be governed by the Public Enterprises Proclamation No. 25/1992.
A body to be designated by the Government shall be the Supervising Authority of the Corporation.
The Corporation shall have its Head Office in Addis Ababa and may have branch offices elsewhere, as may be necessary.
The purpose of the Corporation is to engage in the business of production, transmitting, distributing and selling electrical energy (in accordance with economic and social development policies and priorities of the Government) and to carry on any other related activities that would enable it achieve its purpose.
The authorized capital of the Corporation is 6.1 Billion Birr of which 2.67 Billion Birr is paid up in cash and kind.
The Corporation shall not be liable beyond its total assets.
The Corporation is established for an indefinite duration.
The rights and obligations of the Ethiopian Electric Light and Power Authority established under General Notice No. 213/1956 are hereby transferred to the Corporation.
Done at Addis Ababa, this 7th day of July 1997.