Malawians will still have to embrace tough economic times as The Malawi Energy Regulatory Authority (MERA) has given Electricity Supply Corporation of Malawi (ESCOM) a go ahead to hike electricity prices with 4 percent.
According to reports, ESCOM was supposed to get a 10 electricity tarrif hike in line with the four year ESCOM Base Tariff Schedule.
The development means that electricity prices have increased from an average of K104.46 per kilowatt per hour -kWh to K108.63 per kWh.
In February 2020, Escom qualified for 1.65 percent instead of seven percent based on performance on the agreed KPIs. Mera awarded a further 5.63 percent based on Automatic Tariff Adjustment Formula, making a total of 7.28 percent tariff adjustment.
The development comes as people in the country are still facing tough economic times among others increasing rising costs of products on the market.