The Zimbabwe Energy Regulatory Authority said it had approved an application by Zimbabwe Electricity Transmission and Distribution Company to raise the tariff to 162.16 cents from 38.61 cents.
ZERA said the tariff rise was necessary after inflation soared - the International Monetary Fund says it was about 300% in August. Zimbabwe introduced an interim sovereign currency - the Real Time Gross Settlement dollar or Zimdollar - in February which quickly fell prey to black market speculation.
In an effort to support the Zimdollar, the government in June outlawed the use of foreign currencies in local transactions. But the move failed to curb the Zimdollar's slide. Consumers seem set for more price increases after the energy regulator said that, starting November, the power utility would index its tariff to the US dollar to enable it"to recover from inflation and exchange rate changes".
The new tariff would allow ZETDC to raise money to repair its generators, as well as pay for imports from
Fin24 They have land
Fin24 I think I love being a South African right now
Fin24 My heart is sinking in my shoes for Zimbabwe 💔 The instrument and symbol of a man making a fool of himself to save his wreck of a country.
Fin24 Julius_S_Malema How Zimbabwe enjoying the legacy of your recently deceased hero and his beloved party?
Fin24 But they have land...maybe they can grow electricity? 😂
Fin24
Fin24 More praise little Malema? Quiet in this one🤣🤣🤣🤣
Fin24 So they overcharching Zimbabwe in order for SA not to experience power cuts...?
Fin24 They have the land.
Fin24 Once again due to incompetent greedy leader's the people must suffer. And as usual it's the poor who suffer the most. The rich will always get richer and the poor will always get poorer.
Fin24 what a f***ing joke of a country. Too bad the disease has spread here and we are next.
Fin24 Can we still say that Mnangagwa is doing well for Zim?
Fin24 That's why people are stealing cellphone tower batteries from SA and takin them there..😕
Fin24 That is what Socialism brings to the table.
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