Operational Performance: Electricity generation output, plant efficiency, and fuel costs directly impact profitability.

Regulatory Environment: Government policies on energy pricing, tariffs, and renewable energy mandates affect revenue streams.

Economic Growth: Increased electricity demand from industrial and residential sectors drives revenue growth.

Fuel Prices: Fluctuations in coal, natural gas, and oil prices, which are primary fuel sources, impact operational costs.

Interest Rates: Higher interest rates can increase borrowing costs, affecting profitability and investment decisions.

Currency Exchange Rates: Fluctuations in the Moroccan Dirham relative to other currencies impact import costs and revenue from foreign investments.

Market Sentiment: General investor confidence in the Moroccan stock market and the energy sector influence trading activity.

Company News: Announcements about expansion plans, power plant outages, or dividend payouts can significantly affect stock price.