Energy Fiji Limited (EFL) reported an increase in payments to its key management personnel for the year 2024, totaling $3.3 million, compared to $2.9 million in 2023. The company’s annual report defines key management personnel as individuals responsible for planning, directing, and controlling the company’s activities.
The report specifically identifies the Chief Executive Officer, Hasmukh Patel, along with the Executive Management Group as the key figures in management. Other prominent positions listed include Bobby Naimawi (Chief Operating Officer), Epeli Malo (General Manager Generation), and several others overseeing various operational segments within the company.
The total remuneration consisted of $3 million allocated for salaries, performance pay and allowances, alongside $276,000 contributed towards superannuation.
This surge in management compensation comes at a time when EFL has been navigating financial challenges, including substantial operational costs and high fuel expenditures in the previous year. In 2023, EFL experienced unprecedented fuel expenses of $193 million, necessitating various operational adjustments and cost-saving measures to ensure the company’s viability.
There is a positive outlook for the future as Energy Fiji Limited prepares for a transition to new leadership and a focus on enhancing renewable energy initiatives. The upcoming leadership changes could potentially lead to innovative strategies that may improve the financial health and sustainability practices of the company.
Through this transition, there is hope for continued progress in the energy sector, particularly as the new management may inspire fresh approaches geared towards advancing EFL’s mission of providing reliable energy while embracing sustainability.
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