Electricity Du Laos (EDL) has reported financial losses of over LAK 100 billion or about USD 5 million due to electricity theft from Bitcoin companies and other businesses in Vientiane Capital.
Electricite Du Laos (EDL) has uncovered over USD 5 million worth of electricity theft in Vientiane Capital during the first quarter of this year, with losses increasing by LAK 70 billion (more than USD 4 million) from 2022.
The company collaborated with local authorities to investigate and found that 18 residential customers, three industrial businesses, three general businesses, and one agricultural business were involved in the theft.
The company also uncovered seven illegal cryptocurrency mining operations using stolen electricity. EDL has urged the public to report any electricity theft at 020 95582472 and assured anonymity for those who do so.
Earlier this year, Electricite Du Laos announced its decision to start compensating residents who report electricity theft incidents as the company was losing power due to the same.