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Africa Energy: “ZESCO owes Mozambique EdM US$53 Million” – says Zambia Energy Minister
Zambia Energy Minister, Mathew Nkhuwa, has disclosed that ZESCO Limited owes Mozambique power utility – EdM – a total of US$53 million from the contract the two companies signed to mitigate the power shortage that Zambia faced from 2016.
Nkhuwa has told the Zambia parliament that as of 31 of March the outstanding balance to EdM was $53Million contrary to media reports according to which ZESCO owed EdM a total of $73Million.
He has further clarified that EdM has not terminated the contract with ZESCO due to the balance owed, but that the contract came to an end in January 2018.
The Minister said also that ZESCO decided not to renew the contract because it is now able to generate enough power to meet national demand following the favorable rainfall teh country received in the 2017/18 rainy season.
Nkhuwa also refuted assertions the government is contemplating increasing power tariffs this year as the Minister responded to the questions by Parliament members.