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Cost Of Electricity Rises By 320% In Zimbabwe

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Zimbabweans may be experiencing bad days as the Zimbabwe Energy Regulatory Authority (ZERA) said it had approved an application by Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to raise the tariff to 162.16 cents ($0.11) from 38.61 cents.

 

The southern African country is experiencing its worst economic crisis in 10 years, seen in triple-digit inflation, 18-hour power cuts and shortages of US dollars, medicines and fuel that have evoked the dark days of the 2008 hyperinflation under late President Robert Mugabe.

The country hinged the surgeon sharp rises in fuel and basic goods prices in the last week, blaming President Emmerson Mnangagwa's policies for the crisis.

ZERA said the tariff rise was necessary after inflation soared, a doubt that consumers may still pay more price increases.

The new tariff would allow ZETDC to raise money to repair its generators, as well as pay for imports from South Africa's Eskom and Mozambique which cost $19.5m every month, the regulator said.

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