EEC sorts pay problems

PERTH-based Energy Equity Corporation Ltd has managed to resolve some financial problems experienced with the Indonesian Government-owned electricity authority, PT PLN (Persero).

In what has been described by EEC managing director Maurice Brand as a “major step towards securing future satisfactory cash flows”, the company has established a good understanding with PLN for a longer term agreement that will provide certainty for EEC shareholders.

It will also allow for continued EEC commitment to maintaining a long-term power supply to PLN and the people of the Indonesian province of South Sulawesi.