The reduced reliance on thermal plants would have meant power prices would go down. Manageable levelsWhile it may seem the cost of power has always been on the rise, Keter said major milestones have been achieved, including the retiring of emergency power plants as well as reducing power from thermal plants to manageable levels. This, he said, has slowed the pace at which retail power prices have increased. He explained that the increase in power prices in recent years has been due to many factors, including inflation. According to the Ministry of Energy, Power Purchase Agreements (PPAs) for the three thermal power plants are expected to lapse in the next two years.

Source: Standard Digital March 01, 2021 07:18 UTC