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It was only Sunday when the ZESA tariffs were hiked by another 50% following a 50% increase that was announced in October.
I think it would be an understatement to say that we are still reeling from the last ZESA tariff increase.
It seems like there will be little for recovery because we are going to see the price of electricity go up again.
The Minister for Energy, Zhemu Shoda was asked by members of parliament why the price of electricity was doubled in a short space of time.
His response was that tariffs were too low.
He continued on to say that Zimbabwe is importing power at an average of US$0.9 cents as well as paying independent power producers who are feeding the grid the same rate. The minister went on to say that at present there is a subsidy for consumers because the average cost per unit is around US$0.6 cents.
The tariff increases, according to the report, are meant to make ZESA more sustainanble and the minister concluded by saying the nation should brace for more tariff increases. Techzim
