IMPLEMENTATION OF NEW ELECTRICITY TARIFFS TO COMMENCE IN SECOND QUARTER OF 2023
By Chileshe Mwango
Government says electricity tariff adjustment towards cost reflectivity will be undertaken gradually over a period of 5 years beginning in the second quarter of 2023 to minimize their impact on individuals and businesses.
This follows recommendations from a cost of service study on electricity conducted by Energy Market and Regulatory Consultants –EMRC- of the United Kingdom who was contracted by government with support from the African Development Bank –AFDB- in 2019, with a view to inform the real pricing of electricity in the country.
Chief Government Spokesperson Chushi Kasanda has told Phoenix News in a statement that the multi-year migration will be done gradually over a period of four years.
Ms Kasanda explains that it is important to effect upward electricity tariff adjustments in order to encourage investment into the sector as failure to do so would result in power outages and shortages thereby affecting the country’s economy and livelihoods.
The Chief Government Spokesperson has also reiterated the need for other invest in power generation and supply sector as the country’s power utility company has no capacity to cater for the increasing energy demands for the country.
Ms. Kasanda says at its meeting on Thursday, cabinet also resolved that reform into ZESCO Limited should be conducted to ensure that its financial position is improved through debt restructuring, reduction of operational expenditure and capital expenditure as well as asset optimization.
PHOENIX NEWS
Leave a Reply