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Electricity to cost more - ECB

Thu, 23 May 2013 21:53
by Michael Uugwanga
News Flash

The Electricity Control Board (ECB) has approved NamPower a tariffs increase on electricity of 13.17% for a 12 months period, effective from 1 July, 2013.
This was announced by ECB Chief Executive Officer (CEO), Siseho Simasiku during a media briefing in Windhoek today.
The increase came after NamPower made an application to the ECB in terms of section 27 of the Electricity Act, 4 of 2007, for an annual effective tariff increase.
“The region (SADC) does not have enough power supply.  It’s now Namibia’s time to supply power to the region. Eskom told us that they don’t have power to supply us but they have equipment for us to generate our own energy. The country is currently depending on import of energy and those countries are now running out of energy. We need to create our own power stations here,” said Simasiku.
Simasiku said the reasons of the increase was because NamPower is pursuing various transmission and generation projects at present, aimed at securing reliable power supply in the country in the short term and long term.
The other reason given by Simasiku was the recovery of year on year required revenue, to not breach NamPower’s debt service cover ratio and the proposed tariff increase that makes provision for the year on year revenue requirement of NamPower.
Currently Namibia is a net importer of 50% to 70% of its energy requirements from the region, thus Simasiku said it’s time for the country to start producing its own so that it also become a energy provider in the region.
With the country now ready to construct or upgrade power stations in 2017, Simasiku said, this can only be realised if there are financial resources and political stability in the country.