MODALITIES TO REVERT TO LONGER FUEL PRICING MODEL UNDERWAY
By Chileshe Mwango
The Energy Regulation Board-ERB- has disclosed that modalities are underway to revert to a longer fuel pricing model.
Speaking at the end of year media briefing in Lusaka today, ERB Director General Yohannes Mukabe says a study is being conducted to ascertain whether the fuel pricing model can be adjusted to about two months.
Engineer Mukabe says in order for this model to be successful, ERB and the private sector would need to procure fuel covering a period of up to two months.
Meanwhile, Engineer Mukabe has also disclosed that the current average stock covers for Low Sulphur Gas, Petrol and Kerosene are at 28 days, 14 days and 1,071 days respectively.
And engineer Mukabe says the issuance of standard licenses by the ERB increased to 392, attributing the increase to a conducive environment for investment in the energy sector.