Zambia Electricity Prices Could Double as Drought Slashes Supply
- Zambia seeking to import more costly power to cushion deficit
- Increase would fuel inflation already at three-year high
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Zambia, Africa’s second-biggest copper producer, may double power tariffs as the government seeks more costly imports to offset a shortfall from its drought-stricken hydropower dams.
The southern African nation has an electricity deficit of more than 700 megawatts, about a quarter of total capacity, and wants to buy 300 megawatts from South Africa, Energy Minister Matthew Nkhuwa told reporters in Lusaka, the capital. This will cost more than $20 million monthly, requiring higher prices.