Source: Zimbabwe power tariffs up 50%, another hike set for next month | Nasdaq
HARARE (Reuters) – Zimbabwe’s energy regulator has allowed the state power company to increase tariffs by 50% from Thursday while another hike by the same margin would come into effect next month.
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) had already raised tariffs by 50% on Sept. 23 to bring its rates in line with inflation running above 700%.
The increase would hit residents whose salaries have lagged inflation, while businesses could pass on the cost to consumers.
Zimbabwe Energy Regulatory Authority (ZERA) said in a letter to ZETDC that the government had okayed the “outstanding tariff adjustments.”
ZERA chief executive Edington Mazambani confirmed the increases.
Last year in October, the power company hiked the average electricity tariff by 320% in a bid to ramp up production and improve supplies.
Zimbabwe has managed to keep the lights on since March after businesses were either shut or cut production after a government imposed lockdown to curb the COVID-19 pandemic.
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