Electricity Supply Corporation of Malawi (Escom) Chief Executive Officer (CEO) , Kamkwamba Kumwenda, says there is a need to adjust upward end-user tariffs if the power utility body is to sustain its operations.
The Escom CEO, speaking at a press briefing in Blantyre, 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.