THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has effected a second electricity tariff increase within a month, triggering consumer outrage.
The new tariffs were effective from April 1.
In a notice effecting a 37% hike in tariffs, ZETDC said consumers would get 50 units/kWh for $1 250 on their first purchase (domestic tariff) from $912 and the 1 000 units/kWh price was hiked to $129 460 from $94 640.
Confederation of Zimbabwe Industries president Denford Mutashu said the new tariffs were inevitable as the local currency keeps losing value.
“The increase looks scary, but with the way the exchange rate has shifted on the grey market, it's unavoidable. One hopes the tariff increase will come with an improvement on supply,” Mutashu said.
President Emmerson Mnangagwa reintroduced the Zimbabwe dollar in 2019 after a decade of dollarisation insisting it would hold its own, but has ever since failed to withstand the heat on the currency market.
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As of yesterday, the Zimbabwe dollar was trading at $1 800 against US$1 at the parallel market.
Addressing a post-Cabinet media briefing on Tuesday, Energy minister Zhemu Soda said there nation should not expect power cuts to ease anytime soon because Hwange Unit 7 was still undergoing tests.