Zimbabwe quadruples electricity prices, pummelling impoverished consumers 0 SHARES Share it! Share TweetBy ReutersHARARE – Zimbabwe hiked its average electricity tariff by 320% on Wednesday to ramp up power supplies at a time of daily blackouts, but the move will anger consumers already grappling with soaring inflation that is eroding their earnings. The second increase in the price of electricity inside three months follows sharp rises in fuel and basic goods prices in the last week. The Zimbabwe Energy Regulatory Authority (ZERA) said it had approved an application by Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to raise the tariff to 162.16 cents (10.61 US cents) from 38.61 cents. ZERA said the tariff hike was necessary after inflation soared – the IMF says it was about 300% in August – and due to a plummeting Zimbabwe dollar currency, which was re-introduced in June.

Source: Manila Bulletin October 09, 2019 09:45 UTC