Africa-Press – Zambia. The Energy Regulation Board –ERB- has allowed ZESCO to migrate to the 2024 pre-approved multi-year tariffs for domestic consumers effective TODAY, May 01, 2024.
The Board has also clarified that subsequent tariffs for 2025 to 2027 remain conditionally approved subject to its annual review of the Regulatory Clearing Account.
ERB Chairperson REYNOLDS BOWA says the directives come after the board granted approval to ZESCO to implement the 2024 pre-approved tariffs.
Mr. BOWA says the ERB in April 2023 approved ZESCO’s multi-year tariffs for a FIVE year period, adding that the subsequent tariffs from 2024 to 2027 were conditionally approved subject to the board’s annual review.
In a statement issued to ZNBC news, he said ERB’s analysis revealed that ZESCO’s actual revenue in 2023 of over 28-billion Kwacha exceeded the board’s approved projection of over 21-billion Kwacha by at least 6.7-billion Kwacha.
Mr. BOWA said a huge portion of the excess revenue was however used to cover the rising power purchase costs which were negatively affected by the depreciation of the Kwacha against the US dollar.
He said the remaining excess revenue was applied on the 2024 projected revenue requirement to assist the power Utility Company to reduce the imminent loss arising from the load management program.
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