Energy Prices to Drop by 20% for Ordinary Citizens

The Energy Regulation Board (ERB) has approved ZESCO’s plan to raise funds for power imports by an emergency adjustment of electricity tariffs on Thursday.

The ERB said it had approved ZESCO's application to help the firm generate about 15 million US dollars a month to contribute toward importing 788 megawatts of electricity.

According to the ERB, the tariff for consumers with large power demands will increase by 115%, while prices for households using less than the maximum threshold will drop by 20%. 

James Banda, chairperson of the ERB, said the approval is expected to come into effect from November 1 and run up to January 31, 2025, when it will be reviewed. 

Mr Banda added that the decision will also improve electricity supply from the current three hours daily on a rotational basis to seven hours.

Additional electricity is currently being imported from South Africa’s Eskom Holdings SOC Ltd. and Mozambique as the nationwide drought continues to deplete water levels at dams that generate 80% of energy.

Energy Minister Makozo Chikote said on October 2 that ZESCO is operating at the minimum generation at Kariba, the world’s biggest artificial freshwater reservoir, to maintain regional power system stability.