Zambia Mulls Emergency 156% Electricity Price Hike Amid Drought-Fueled Power Crisis

Published: Aug 19, 2024 10:05

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[Zambia Considers Emergency Increase in Electricity Prices] Zambia's energy regulatory body is considering an application from the state-owned power company to raise electricity prices by up to 156% as an emergency measure to cover losses caused by drought. In a statement posted on its website on August 16, the country's Energy Regulatory Board said that the price increase would help Zesco Limited raise USD 14 million from retail electricity customers. Zambia's power shortage has rapidly worsened due to the El Niño-induced drought, which has caused the water levels of hydroelectric dams that supply about 85% of the country's electricity generation to plummet. Zesco stated that at the largest Kariba, the country would run out of its water allocation by the end of September. The emergency increase in electricity prices may further exacerbate the country's inflation level, which already reached 15.4% in July.

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