The Moroccan government spent seventeen billion dirhams between 2022 and 2025 to prevent electricity tariffs from increasing, according to reports by the Hespress news outlet based on the economic and financial report linked to the 2027 finance bill. State transfers allowed the Office National de l'Électricité et de l'Eau Potable to absorb the increase in international energy prices without passing them directly onto household and business bills.

Public intervention preserved price stability, but generated strong pressure on the entity's accounts. The operator recorded a net loss of 6.96 billion dirhams in 2025, following a deficit of 7.29 billion in 2024. For the current year, projections indicate a further worsening of losses, estimated at over 8.63 billion dirhams, compared to revenues falling to 41.47 billion.

The decline in revenues also reflects the transfer of distribution activities to twelve regional multi-service companies. In parallel, financial debt rose to 55.93 billion dirhams, while investments reached 7.36 billion in 2025. To address the financial situation, authorities are planning a thorough corporate restructuring, which includes transforming the entity into a joint-stock company.

The investment program for the period between 2026 and 2030 amounts to 219.1 billion dirhams, with 177 billion reserved for electricity and 42.1 billion allocated to drinking water. Private funds are expected to cover seventy-two percent of the plan, which includes adding 14.34 gigawatts of renewables, storage facilities, upgrades to interconnections with Spain and Mauritania, and new desalination capacity.