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Electricity Supply Corporation of Malawi (Escom) Chief Executive Officer (CEO), Kamkwamba Kumwenda has said the company continues to make loses since its unbundling in 2018.
Kamkwamba said this during a media briefing in the commercial capital, Blantyre.
He said the state-owned power utility body has been operating at a loss, which cumulatively stands at K112 billion since its unbundling in 2018.
He disclosed that the company currently buys electricity from power producers at K140 per kilowatt per hour but sells it to the end-user at K104 per kilowatt per hour, a thing he said is crippling operations.
“Escom is dying. The choice is ours; either we close Escom or increase tariffs,” Kumwenda said.
He has also proposed for the automated price adjustments.
“We are currently negotiating with the Malawi Energy Regulatory Authority to increase the tariffs,” said Kumwenda.
