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Thursday, July 2, 2020

KCM Confirms it will get Power from ZESCO through CEC

Economy KCM Confirms it will get Power from ZESCO through CEC

Konkola Copper Mines has acknowledged seeing a media statement, dated 29 May 2020, issued by the Copperbelt Energy Corporation in which it indicates that it intends to switch off power supply to KCM with effect from 1st June 2020.

KCM General Manager Corporate Affairs Shapi Shachinda says the 20-year Power Supply Agreement between CEC and KCM expired on 31st March 2020, and was extended by mutual agreement to 31st May 2020.

Mr Shachinda said the KCM has entered into a binding Term Sheet Agreement for a new Power Supply Agreement between ZESCO Limited and KCM, effective 1st June 2020.

He said ZESCO Limited is expected to conclude a Wheeling Agreement soonest with CEC to transmit power from ZESCO Limited, via CEC infrastructure, to KCM operations.

Mr Shachinda said the KCM has also become aware that the Minister of Energy issued a Statutory Instrument on 29th May 2020, in terms of Section 15 of the Electricity Act, Number 11 of 2019, declaring CEC as a common career of power from ZESCO to KCM using CEC infrastructure in the absence of a signed Wheeling Agreement between CEC and ZESCO Ltd.

He said this will enable Zesco to transmit power to KCM using CEC infrastructure, pending the Wheeling Agreement between CEC and ZESCO.

Mr Shachinda said KCM expect a seamless transition in the supply of power from CEC to ZESCO and any interference or restriction will be an act of sabotage.

He said Konkola Copper Mines cannot comment any further on any other issues pertaining to this matter as there is a pending case at the Kitwe High Court to which the Court is yet to pronounce itself on the said matters.

Mr Shachinda said in as far as these matters are concerned, KCM reserves its rights and will seek redress at an appropriate time and forum.

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6 COMMENTS

  1. Mr Kudos – You are an incredibly ignorant individual …do you not know that CEC is a listed company you think its a Katemba company like those PF cadres siphoning money from the markets stright into there pockets.

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  2. The same KCM that owes CEC $132 million …this is another court case, PF saw a successful local operation but want to kill off and give business to corrupt inefficient ZESCO.

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  3. We know the company is listed. But we know individuals with huge shares in CEC . These are the ones who manipulate CEC for their own benefit. And these are financiers for n UPND. It is time up now. ! CEC is gone . Twanaka babo ….not anymore.

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  4. UPND will soon be bankrupt. Their financiers everwhere are pulling out cause they are also having financial difficulties. It is the reasons why you have seen counillors everywhere resigning. They no there is no future in UPND.

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