Saturday, February 24

ESCOM Lost K112 Billion

The Electricity Supply Corporation of Malawi (ESCOM) says since its unbundling in 2018, it has been operating at a loss, accounting for K112 billion which has gone down the drain since the decision was effected.

ESCOM Chief executive officer, Kamkwamba Kumwenda says, ESCOM is currently buying electricity from power producers at K140 per kilowatt, per hour, yet it is selling to end-user consumers at K104 per kilowatt, per hour.

“ESCOM is slowly dying. It is either we close ESCOM or increase the tariffs. We are proposing automated price adjustments. We are currently negotiating with the Malawi Energy Regulatory Authority to increase the tariffs,” said Kumwenda during a press briefing at the company’s head office in Blantyre today.

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