Electricity Supply Corporation of Malawi (Escom) CEO Allexon Chiwaya said they will continue to engage the Malawi Energy Regulatory Authority (Mera) on their proposed 61 percent electricity tariff hike.
The development follow Mera’s approval of 32 percent hike instead of the proposed percentage of 61 last week.
During a press conference on Tuesday, Chiwaya said that the 32 percent approved fall short and will have a negative impact on projects they plan to implement.
Defending the corporation’s calls for a 61 percent hike, Chiwaya said they aim to encourage small electricity suppliers to sell them power.
He also said that they will go ahead with plans to borrow around K30 billion from commercial banks.
The development has displeased consumers saying that they should not be forced to pay for Escom’s mismanagement.