The UPBEAT data platform discloses information on the performance of electric utilities in Sub-Saharan Africa with a total of 60 performance indicators across financial, operational, and transparency and accountability dimensions.
The objective of UPBEAT is to facilitate understanding of utilities’ performance at a certain point in time, track the changes in utilities’ performance over time as well as benchmark utilities’ performance against their peers in the region.
UPBEAT allows users to group utilities into cohorts based on the segments of the value chain covered by a utility’s operations—vertically integrated utilities (VIUs), generation utilities, transmission utilities, and distribution utilities.
In addition, UPBEAT also groups utilities by membership in each of Sub-Saharan Africa’s four power pools—Central Africa Power Pool (CAPP), Eastern Africa Power Pool (EAPP), Southern African Power Pool (SAPP), and West African Power Pool (WAPP).
UPBEAT indicators in each dimension and their definitions are presented below.
Financial performance indicators are calculated from data reported in utilities’ financial statements and are classified across four categories.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Operating cost recovery (billed revenue), excl. subsidies | % | Total Revenue divided by Operating Costs (cost of sales + other operating expenses + income tax). | G-T-D |
| Operating cost recovery (billed revenue), incl. subsidies | % | Total Revenue plus Operating Subsidies divided by Operating Costs (cost of sales + other operating expenses + income tax). | G-T-D |
| Operating cost recovery (cash collected), excl. subsidies | % | Total Revenue minus Cashflow from Change in Net Trade Accounts Receivable (trade and other receivables in year T, minus trade and other receivables in year T-1), all divided by Operating Costs (cost of sales + other operating expenses + income tax). | G-T-D |
| Operating cost recovery (cash collected), incl. subsidies | % | Total Revenue plus Operating Subsidies minus Cashflow from Change in Net Trade Accounts Receivable (trade and other receivables in year T, minus trade and other receivables in year T-1), all divided by Operating Costs (cost of sales + other operating expenses + income tax). | G-T-D |
| Operating and debt service cost recovery (cash collected), excl. subsidies | % | Total Revenue minus Cashflow from Change in Net Trade Accounts Receivable (trade and other receivables in year T, minus trade and other receivables in year T-1), all divided by Operating Costs (cost of sales + other operating expenses + income tax) plus Debt Service (interest component of debt servicing cashflows + repayment component of debt servicing cashflows). | G-T-D |
| Operating and debt service cost recovery (cash collected), incl. subsidies | % | Total Revenue plus Operating Subsidies minus Cashflow from Change in Net Trade Accounts Receivable (trade and other receivables in year T, minus trade and other receivables in year T-1), all divided by Operating Costs (cost of sales + other operating expenses + income tax) plus Debt Service (interest component of debt servicing cashflows + repayment component of debt servicing cashflows). | G-T-D |
| Interest coverage ratio | Ratio | Earnings Before Interest and Tax divided by Interest Expense | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Collection rate | % | Total Revenue minus Bad and Doubtful Debt expense minus Cashflow from Change in Gross Trade Accounts Receivable (trade and other receivables in year T, minus trade and other receivables in year T-1) plus Cashflow from Change in Deferred Revenues on Prepaid Sales, all divided by Total Revenue. | D |
| Accounts receivable | % | Gross Trade Receivables divided by Total Revenue. | G-T-D |
| Debtor days | Days | Gross Trade Receivables divided by Total Revenue times 365. | G-T-D |
| Accounts payable | % | Trade Payables divided by Cost of Sales. | G-T-D |
| Creditor days | Days | Trade Payables divided by Cost of Sales times 365. | G-T-D |
| Current ratio | Ratio | Current Assets divided by Current Liabilities. | G-T-D |
| Debt service coverage ratio | Ratio | Pre-financing Cashflows (cashflow from operations + cashflow from investment activities) divided by Debt Service (interest component of debt servicing cashflows + repayment component of debt servicing cashflows). | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Debt to assets ratio | Ratio | Debt (current borrowings + non-current borrowings + bank overdraft) divided by Total Assets | G-T-D |
| Cost of debt | % | Interest Component of Debt Servicing Cashflows divided by Debt (current borrowings + non-current borrowings + bank overdraft) | G-T-D |
| Debt to equity ratio | Ratio | Debt (current borrowings + non-current borrowings + bank overdraft) divided by Total Equity | G-T-D |
| Maturity matching | Ratio | Non-Current Assets divided by the sum of Non-Current Liabilities plus Total Equity. | G-T-D |
| Net debt to sales ratio | Ratio | Net Debt (Long Term Debt plus Current Portion of Long Term Debt plus Short Term Borrowings plus Bank Overdraft minus Cash and Cash Equivalents) divided by Revenue | G-T-D |
| Implied cost of debt | % | Interest Component of Debt Servicing Cashflows divided by Debt (current borrowings + non-current borrowings + bank overdraft). | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| EBIT margin | % | Earnings before Interest and Taxes divided by Total Revenue. | G-T-D |
| Net profit margin | % | Net Profit After Tax divided by Total Revenue. | G-T-D |
| EBITDA margin | % | Earnings before Interest, Taxes, Depreciation, and Amortization divided by Total Revenue. | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Capital expenditure covered by subsidies | % | Cash Flow from Capital Subsidies divided by Cash Invested in Fixed Assets | G-T-D |
| Operating costs covered by subsidies | % | Operating Subsidies divided by Operating Costs [ - (Cost of Sales plus Other Operating Expenses minus Bad Debt Expense plus Income Tax)] | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
Operational performance indicators are shown as reported by utilities and are classified across two categories
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| SAIDI (transmission) | Hours | Sum of (number of customers affected by an outage times the duration of the outage) divided by total number of customers connected. | T |
| SAIFI (transmission) | Interruptions | Sum of number of customers affected by an outage divided by number of customers connected. | T |
| SAIDI (distribution) | Hours | Sum of (number of customers affected by an outage times the duration of the outage) divided by total number of customers connected. | D |
| SAIFI (distribution) | Interruptions | Sum of number of customers affected by an outage divided by number of customers connected. | D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Transmission losses | % | Total losses on the transmission network as reported by the utility. | T |
| Distribution losses | % | Total losses on the distribution network as reported by the utility. | D |
| System losses | % | Total losses on the electricity network as reported by the utility; if the utility reports transmission and distribution losses separately, system losses are calculated as [1-((1-Transmission Losses) *(1-Distribution Losses))]. | T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
Transparency and Accountability indicators are binary YES/ NO indicators that track public disclosure of information by the utilities across four categories. The combined score indicators for each category are the share of the indicators reported by the utilities in each category. The Total Score is the share of all indicators reported by the utilities. Web-related indicators are not tracked for all years and thus are not included in calculation of the combined category scores in years where they are not tracked.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Total Score | % | Share of all indicators reported: number of all reported indicators divided by total number of indicators under the Transparency and Accountability Dimension | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Category Score | % | Share of indicators reported in the Performance management and reporting category: number of reported indicators divided by total number of category indicators | G-T-D |
| Publicly available performance agreement with Government or regulator | 1 (YES)/0 (NO) | The utility has a publicly available performance agreement with the Government or Regulator, e.g., performance agreement for an SOE with its oversight ministry, a private license or concession agreement, or a performance-based regulation agreement. | G-T-D |
| Publicly available regular public performance reports from regulator | 1 (YES)/0 (NO) | The regulator publicly reports the performance of the utility, e.g., publication of an annual performance report or quarterly Key Performance Indicators (KPI) tracking on its website. Reporting on quality of service is a minimum requirement. | G-T-D |
| Financial statements published on website | 1 (YES)/0 (NO) | Financial statements, completed to IFRS/OHADA standards, are published on the utility's website within 12 months of the end of the fiscal year | G-T-D |
| Annual report published on website | 1 (YES)/0 (NO) | The utility's Annual Report is published on its website within 12 months of the end of the fiscal year. | G-T-D |
| Financial statements use IFRS/ OHADA; independently audited | 1 (YES)/0 (NO) | The utility's financial statements are independently audited by an external party: internationally recognized audit firms, local firms appointed by the State Auditor, or the State Auditor itself. | G-T-D |
| Audit opinion unqualified | 1 (YES)/0 (NO) | The audit of the utility's financial statements finds that the statements are fairly and appropriately presented, without exception or qualification | G-T-D |
| Annual report covers actions taken to address cyber-security | 1 (YES)/0 (NO) | The utility's Annual Report describes actions being taken to address cybersecurity. | G-T-D |
| Up-to-date corporate strategy publicly available | 1 (YES)/0 (NO) | The utility has an up-to-date Corporate Strategy that is publicly available. | G-T-D |
| Annual report confirms Performance Management System in place | 1 (YES)/0 (NO) | The utility's Annual Report confirms the utility has a Performance Management System in place. The Performance Management System should have, at a minimum, individual goal setting at the company or senior management level. | G-T-D |
| Annual report includes relevant operational and financial KPIs | 1 (YES)/0 (NO) | The utility's Annual Report includes relevant operational and financial Key Performance Indicators (KPIs). | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Category Score | % | Share of indicators reported in the Integrity and internal controls category: number of reported indicators divided by total number of category indicators. | G-T-D |
| Annual report includes a governance section | 1 (YES)/0 (NO) | The utility's Annual Report includes a Governance section. This must (1) describe the Board's Charter; (2) confirm that the Board operates under a Code of Conduct and Conflict of Interest Policy; and (3) confirm that the Company has a Code of Conduct / Ethics Policy and a Conflict of Interest Policy. | G-T-D |
| Board is organized into sub-committees (including an Audit Committee); annual report includes a charter on each | 1 (YES)/0 (NO) | The utility's Board is organized into Committees (including an Audit Committee), each with a charter outlined in the Annual Report. | G-T-D |
| Annual report provides information on Audit Committee activities | 1 (YES)/0 (NO) | The utility's Annual Report provides information on the activities of the Audit Committee | G-T-D |
| Internal controls exist; there is an internal audit function reporting directly to Board | 1 (YES)/0 (NO) | The utility has in place a system of Internal Controls and an Internal Audit function reporting directly to the Board. There must be evidence that a system of policies, procedures, and checks and balances is in place, covering (1) the integrity of financial data; (2) operational efficiency and effectiveness; and (3) compliance with governance policies and procedures. Internal Audit is a management function that evaluates compliance, recommends solutions to any weaknesses identified, and ensures that those solutions are implemented on a timely basis. | G-T-D |
| Vacancies advertised on company website | 1 (YES)/0 (NO) | Management and staff vacancies are advertised on the utility website. | G-T-D |
| Utility uses eProcurement | 1 (YES)/0 (NO) | The utility uses eProcurement, comprising an ERP-enabled procurement process linked to a tendering web portal on the company's website. The web portal should (1) enable supplier registration; (2) post tender opportunities and bidding documents; (3) enable bid submissions; and (4) post clarifications, etc. The utility also follows open contracting standards | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Category Score | % | Share of indicators reported in the Capital markets discipline category: number of reported indicators divided by total number of category indicators | G-T-D |
| A portion of utility’s shares listed publicly | 1 (YES)/0 (NO) | A portion of the utility's shares are listed publicly | G-T-D |
| Utility maintains a credit rating | 1 (YES)/0 (NO) | The utility maintains a credit rating | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.
| Indicator name | Units | Definition | Applicable part of value chain |
|---|---|---|---|
| Category Score | % | Share of indicators reported in the Stakeholder relations category: number of reported indicators divided by total number of category indicators | G-T-D |
| Utility website provides connection procedures, tariff, and planned outage information | 1 (YES)/0 (NO) | The utility's website provides connection procedures, tariff, and planned outage information. | D |
| SMS/App/Call center supports service interruption reporting and billing enquiries | 1 (YES)/0 (NO) | The utility supports service interruption reporting and tracking and billing enquiries via its website, SMS, and/or mobile app. | D |
| Annual report includes Corporate Social Responsibility narrative | 1 (YES)/0 (NO) | The utility's Annual Report includes a Corporate Social Responsibility (CSR) narrative. | G-T-D |
| Annual report includes an environmental narrative | 1 (YES)/0 (NO) | The utility's Annual Report includes an environmental narrative | G-T-D |
| Annual report includes gender statistics | 1 (YES)/0 (NO) | The utility's Annual Report reports gender statistics | G-T-D |
Note: D, G and T stands for distribution, generation, and transmission, respectively.