In his first major decision as Board Chairperson of the Electricity Supply Corporation of Malawi (ESCOM), Gospel Kazako has approved a 16 percent electricity tariff hike, effective immediately.
According to a statement released by ESCOM, the tariff adjustment is aimed at improving service delivery to its customers.
The hike is part of a four-year base tariff approved by the Malawi Energy Regulatory Authority (MERA) in 2023, with this being the second tranche.
As of today, ESCOM customers will have to dig deeper into their pockets to purchase electricity, with the increased tariff expected to generate additional revenue for the power utility company.
ESCOM has justified the tariff hike, citing the need to enhance its services and meet the growing demand for electricity in the country.
The company has assured its customers that the increased revenue will be used to improve the quality and reliability of its services.
The tariff hike is likely to have a significant impact on households and businesses that rely on electricity for their daily operations.
Consumers have expressed concern over the increased cost of living, which is expected to rise further with the electricity tariff hike.
