Minister for Finance and Treasury and the Minister for Mines, Energy and Rural Electrification
Minister for Mines, Energy and Rural Electrification
Board of Directors
|John Bosco Houaniahu||Member||17/12/2020|
Solomon Islands Electricity Authority (SIEA), trading as Solomon Power, is a State-owned Enterprise established under the Electricity Act 1969 to provide electricity services in urban areas of the country (currently Honiara and nine provincial centres). SIEA is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010, and its tariff is calculated in accordance with the The Electricity Tariff (Automatic Base Tariff and Fuel Tariff Adjustment) Regulation 2005.
Solomon Power is governed by a board of directors that is responsible to the Accountable Ministers, being the Responsible Minister and the Minister of Finance. The Responsible Minister is the Minister responsible for Energy, Mines and Rural Electrification.
Vision and Mission
Solomon Power’s mission is “to provide a safe, reliable, affordable and accessible supply of electricity to the Solomon Islands”.
Community Service Obligations
Solomon Power received SBD24.6 million in payments for the provision of community service obligations (CSOs) in 2014, and SBD4.4 million in 2016, no CSO received in 2017 and in 2018 SBD1.5 million. In 2019 SIEA did not submit any CSO proposal stating that they will self finance for non-commercial operations in outer stations. These CSOs are focused on provincial electricity supply and streetlight maintenance and were subject to a contract with the Ministry of Finance.
|(SBD ‘000)||2013||2014||2015||2016||2017||5-yr Average|
|Net Profit After Tax||72,110||91,415||106,687||120,049||79,455||93,943|
|Cash / Current liabilities||4.779||2.667||4.171||3.802||0.53||3.189|