Solomon Islands Electricity Authority

Accountable Ministers

Minister for Finance and Treasury and the Minister for Mines, Energy and Rural Electrification

Responsible Minister
Minister for Mines, Energy and Rural Electrification

Board of Directors

Director Position Expiry
David K.C.Quan Chairman 20/Feb/2022
 John Bosco Houaniahu  Member  17/12/2020
Rovaly Sike Member 17/17/2020
Muriel Dakamae Member 17/12/2021
James Apaniai Member 17/12/2021
Harry Zoleveke Member 30/06/2015
Sebastin Ilala Member 30/06/2015


Activities

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 and no CSO received in 2017. These CSOs are focused on provincial electricity supply and streetlight maintenance and were subject to a contract with the Ministry of Finance.

Financial Highlights

 (SBD ‘000) 2013 2014 2015 2016 2017 5-yr Average
Revenue 426,152 463,955 448,189 445,987 440,978  445,052
Net Profit After Tax 72,110 91,415 106,687 120,049 79,455 93,943
CSO payments 10,000 24,596 0 4,400 0  7,799
Total Assets 624,101 720,757 834,751 1,078,678 1,138,536  882,964
Total Liabilities 52,933 58,173 65,480 108,344 465,990  150,184
Shareholders Funds 571,168 662,584 769,271 970,334 672,546  729,180
ROE % 12.6% 13.8% 13.9% 12.4% 12% 12.94%
ROA % 11.6% 12.7% 12.8% 11.1% 7% 11.04%
Asset Utilization 68% 64% 54% 41% 38% 53%
Cash / Current liabilities 4.779 2.667 4.171 3.802 0.53 3.189

Important Documents

Website