Power tariffs to be hiked


President Lungu has directed that new electricity tariff schedules should be implemented with a view to progressively move to full cost-reflective tariffs.

The President also directed ZESCO Limited, the Ministry of Energy and the Energy Regulation Board to ensure that back-to-back contracts are put in place between the providers of the emergency power to ZESCO and the mining companies that consume the bulk of power.
President says this will help reduce the pressure on the Treasury because in the wake of reduced power generation, Government has had to import emergency power this year.

The Head of State says between September, 2015 and the end of the year, Government will have spent over 40 million US dollars for emergency electricity imports.

The President has also directed the Industrial Development Corporation-IDC- and ZESCO to facilitate the speedy development of alternative sources of energy with the view to have some of them come on stream next year.

And in the same vain the Head of State has announced that this Saturday, November 28, 2015, he will be launching the 750 mega-watt Kafue Gorge Lower Hydro-power station.

He added that the facility is the first major investment Zambia is making in 40 years.

The President also said apart from increased power imports already under negotiation, Government is on course to inaugurate the Itezhi-Tezhi hydro-power station next month.