{"id":62082,"date":"2024-07-23T23:37:29","date_gmt":"2024-07-23T23:37:29","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff"},"modified":"2024-07-23T23:46:32","modified_gmt":"2024-07-23T23:46:32","slug":"escom-stares-at-k11billion-loss-due-to-low-tariff","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff","title":{"rendered":"Escom stares at K11billion loss due to low tariff"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The Electricity Supply Corporation of Malawi (Escom) is expected to lose about K11 billion within a year due to failure to increase tariffs for domestic consumers.<\/p>\n

Escom Chief Executive Officer Kamkwamba Kumwenda said annual tariff adjustments are approved by the Malawi Energy Regulatory Authority (Mera).<\/p>\n

However, he said last year\u2019s adjustment spared domestic consumers.<\/p>\n

\u201cThe consequence of this decision is that Escom is now unable to carry out necessary maintenance on its network. We have a duty to provide electricity to all, but with the current tariff, we are unable to do so,\u201d Kumwenda said.<\/p>\n

He added that Independent Power Producers, which sell electricity to Escom, were allowed to increase their tariffs.<\/p>\n

\u201cWe are buying electricity at a high price and selling it at a lower price, leaving us with huge debts by the end of the month,\u201d he said.<\/p>\n

Parliamentary Committee on Budget and Finance Vice Chairperson Ismail Mkumba urged Mera to intervene.<\/p>\n

\u201cIt is wrong for Escom to buy electricity at a higher price and sell it at a lower price. We will engage Mera and Treasury to find a solution. The economy is struggling, but as a nation, we need electricity, and prices must be realistic,\u201d Mkumba said.<\/p>\n

In 2023, Mera approved an 18 percent tariff adjustment for the initial year of the 2023-2027 Base Tariff, effective September 1, 2023.<\/p>\n

Overall, Mera approved a 50.8 percent tariff adjustment spread over the next four years.<\/p>\n

For More News And Analysis About Malawi Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The Electricity Supply Corporation of Malawi (Escom) is expected to lose about K11 billion within a year due to failure to increase tariffs for domestic consumers. Escom Chief Executive Officer Kamkwamba Kumwenda said annual tariff adjustments are approved by the Malawi Energy Regulatory Authority (Mera). However, he said last year\u2019s adjustment spared […]<\/p>\n","protected":false},"author":84,"featured_media":62081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-62082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-malawi"],"yoast_head":"\nEscom stares at K11billion loss due to low tariff - Malawi<\/title>\n<meta name=\"description\" content=\"The Electricity Supply Corporation of Malawi (Escom) is expected to lose about K11 billion within a year due to failure ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Escom stares at K11billion loss due to low tariff\" \/>\n<meta property=\"og:description\" content=\"The Electricity Supply Corporation of Malawi (Escom) is expected to lose about K11 billion within a year due to failure ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-23T23:37:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-23T23:46:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/07\/sm_1721765549.940237.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"441\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Escom stares at K11billion loss due to low tariff\",\"datePublished\":\"2024-07-23T23:37:29+00:00\",\"dateModified\":\"2024-07-23T23:46:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\"},\"wordCount\":255,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/07\/sm_1721765549.940237.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/escom-stares-at-k11billion-loss-due-to-low-tariff\",\"name\":\"Escom stares at K11billion loss due to low tariff - 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