In Zimbabwe, Price of Electricity Shoots Up 320%
|10/10/2019||Posted by BusinessMediaguide.Com under General World News||
The price of electricity jumped an alarming 320% in Zimbabwe on Wednesday as the country continues to spiral into the worst economic crisis in more than a decade.
The Zimbabwe Energy Regulatory Authority (ZERA) said it had approved the request by the national power company to increase the rate from 38 Zimbabwe cents per kilowatt hour to 162 Zimbabwe cents.
The price hike was the second in three months. In August, ZERA approved a price hike of 400%.
Authorities said the hike was needed for the power company to be able to afford to maintain its equipment and buy fuel for its generators.
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