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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq imports electricity at a cost of up to $300 million annually

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    Iraq imports electricity at a cost of up to $300 million annually Empty Iraq imports electricity at a cost of up to $300 million annually

    Post by Rocky Fri 20 Sep 2024, 4:46 am

    Iraq imports electricity at a cost of up to $300 million annually

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    Economy News - Baghdad
    [rtl]Energy expert, Duraid Abdullah, confirmed today, Thursday, that the cost of importing electricity entirely in Iraq is less than creating and operating it nationally, while explaining the reasons.[/rtl]
    [rtl]Abdullah said, "The average cost of producing one unit in Iraq ranges between 9 cents and 50 cents depending on the type of stations and their recent construction. Iraq imports electrical energy via 9 transmission lines, 4 of which are from Iran, 3 from Kurdistan, and one line each from Turkey and Jordan, with a total capacity of 1.05 GW at a variable cost depending on the source, ranging from 12 cents per unit to 30 cents."[/rtl]
    [rtl]He explained that "Iraq imports electricity at a total cost of up to 300 million dollars annually, which means that the price of one imported unit may be cheaper for Iraq than one produced locally, since the production costs are not limited to the price of fuel and the price of capital for the station, but there are other costs that will double the cost of producing the unit inside Iraq."[/rtl]
    [rtl]The Iraqi government confirms that the electricity infrastructure requires investments of no less than $30 billion.[/rtl]
    [rtl]The Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Mohammed Salih, detailed the file of Iraq's debts to Iran regarding the import of electricity, and while specifying the average annual cost, he confirmed that Iraq depends on Iran to meet about 40% of its energy generation needs.[/rtl]
    [rtl]Saleh said in press statements followed by "Baghdad Today", today, Thursday, that "the average annual cost that Iraq bears to import gas and electricity from Iran varies between years and according to energy prices in the world, but it is perhaps about 3-4 billion dollars annually or more, according to the variables of energy prices in the international market."[/rtl]
    [rtl]He said: "There are no debts in the sense of debts based on borrowing mechanisms from the Islamic Republic of Iran, but what is happening is that Iran is supplying the electric power stations that operate on gas fuel in our country in a continuous manner to meet the needs around the clock without stopping for ten years or more."[/rtl]
    [rtl]He pointed out that "some direct electricity lines were prepared to meet the need of a number of governorates for direct electricity through the electrical connection between the two countries," indicating that "the costs of preparing fuel and electricity have corresponding sufficient annual allocations allocated in the federal general budget."[/rtl]
    [rtl]Al-Sudani's advisor added: "Despite the above, the Islamic Republic of Iran is still subject to a financial boycott by the United States and some Western countries, which has banned all banking transactions and related transfers since 2011 until the present time."[/rtl]
    [rtl]Saleh continued: "Because of the problems of electricity shortage in Iraq and the urgent need to import gas and electricity from the neighboring country, Iraq has become dependent on Iranian sources of supply, especially gas fuel."[/rtl]
    [rtl]He pointed out that "the US administration takes this matter into consideration and appreciates Iraq's urgent need for electricity, as the United States, for its part, periodically exports what helps pay the Islamic Republic of Iran's dues for the prices of exporting gas and electricity to Iraq."[/rtl]
    [rtl]He stressed that "there are clear and transparent payment mechanisms, but they take some time, which creates an accumulation of rights for the Iranian side until the payment and settlement processes are carried out in full at each stage of time and according to a specific and highly governed mechanism."[/rtl]


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