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Escom awaits new tariff to pay K82 billion Egenco debt

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Electricity Supply Corporation of Malawi (Escom) has said the K82 billion that the utility firm owes Electricity Generation Company (Egenco) will be settled by the new proposed tariff.

Early this year, Escom proposed that the electricity tariff should be hiked by 99 percent while Egenco proposed a tariff hike of 36 percent.

In an interview, Escom Chief Executive Officer Kamkwamba Kumwenda said the government will have to decide how the K82 billion should be dealt with.

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He said the bill will either be paid in full or partial reversal.

“We have just crossed our fingers hoping for the best. As it stands now, Escom has no money to square the bills. It is up to the government to help us move forward.

“Of course, the new tariff has not been approved but we are hoping that the new tariff will turn things around at Escom,” Kumwenda said.

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Egenco spokesperson Moses Gwaza was yet to respond to our questionnaire.

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