A quick intervention from the Government has saved consumers from being slapped with electricity price increases for this year.
It being an election year, activists and contenders for political office had made quick plans to lead mass protests against the electricity price increases which were announced by the Electricity Control Board (ECB) at the end of June.
The new tariffs on electricity were supposed to have taken effect from 1 July, but on 3 July the ECB called for a quick media conference where it announced that the new prince increases have been cancelled.
“In line with Section 27 of the Electricity Control Board Act No 4 of 2007, the Board approved an effective 8% bulk electricity tariff for NamPower for the financial year 2024/2025, announced on the 26 of April 2024,” ECB’s CEO Mr Robert Kahimise said.
“Thereafter, the tariff approvals for the major distribution utilities were announced on 27 June 2024.”
Kahimise added that following the plight of the nation on the affordability of electricity, the Minister of Mines and Energy “engaged the ECB, to collectively look into the plight of electricity consumers.
“In this regard, the Government resolved to avail approximately N$365 million to subsidise electricity [used by] consumers for the 2024/2025 financial year effective 1 July 2024 to 30 June 2025.”
This means that the consumers will pay the same tariffs as per the approved tariffs of last year [the year 2023/2024].
“Approximately N$221 million of the N$365 million has been set aside to assist NamPower to execute its mandate and to ensure un-interrupted security of electricity supply. The remaining N$144 million will be utilised by the distribution utilities to lessen the impact of the electricity tariff on their customers for the said period,” Kahimise said.
In the photo: Mr Robert Kahimise of ECB announcing the new turn of fortunes.
