Lusaka, December, 30, 2020, ZANIS—The Energy Regulation Board (ERB) has in the last year improved its performance as compared to the year 2019.
ERB Director General Langiwe Lungu has attributed the improved performance to non-adjustment of fuel prices since December 2019 despite the outbreak of COVID-19.
Ms Lungu stated that the board has this year not effected any price change on petroleum products in the country despite the fluctuation of the US dollar.
‘’Fuel prices were maintained despite the turbulent events experienced during the course of 2020, specifically the outbreak of the COVID-19 pandemic and fluctuation of the kwacha to the US dollar,’’ Ms Lungu noted.
Ms Lungu was speaking today during a press briefing at their offices and explained that the board reviews petroleum prices under a 60 days cycles whenever petroleum feedstock is imported into the country.
She further explained that the price change is only effected if the wholesale price is more than 2.5 percent threshold.
She however noted that the movement in the exchange rates had negative impacts on the benefits of a reduction in the pump prices that should have accrued to the county.
In a related development Ms Lungu disclosed that the organization issued 289 licences against 117 in 2019 attributing the increase to private sector participation in the energy sector.
‘’Despite the COVID-19 pandemic, I am pleased to report that ERB issued a record number of licenses at 289, against 117 licenses issued in 2019,’’ She said.
She said the sector experienced an increase in demand for energy products and services but had challenges of supply.
Ms Lungu also highlighted that the board made adjustments on electricity tariffs for domestic customers that are supplied by ZESCO limited, North-western Energy Corporation (NWEC) and Zengamina Power Limited.
She said ZESCO Limited had this year increased tariffs by a weighted average of 113 percent.
“At the beginning of the year, tariffs were increased for ZESCO’s customers by a weighted average of 113 %. However the increase did not affect customers with power purchase agreements and the mines whose tariffs are directly negotiated with ZESCO and approved by the ERB,” she explained.
Meanwhile ERB managed to score above target in revenue collection of more than K2. 9 million for the year 2020 against the target of K1.5million
This what you call an insult…these morons refused to reduce the price of fuel back in May when crude oil was at an all time low ..now still low they continue and now at the end of the year they are patting each other on the back for a job well done.
Oil and Energy companies are struggling with importations due to the weak kwacha and ERB has been sleeping on the retail price increase for the past 6 months
Onwards and upwards.twalumba. meanwhile the constipated diasporan monkey tarino is as usual criticising for the sake of it. I do not know if it comments just for the sake of being seen to say something. You must lead a very sad life in diaspora if you find yourself complaining about events in Zambia, a country of which you are no longer a citizen of. What a shame
The pump price didn’t go up, but it didn’t go down either. Which indicators does the ERB use to measure its success?
Well ERB is not a business to gauge its performance in business terms. However even as a regulator it has fared very poorly and I end here lest I be summoned by Charity.
There was a time when global oil prices had dropped by 60%. Here in Zambia nothing or only K1 was reduced. ERB failed to adjust prices for 5 days when the Saudi Oil was in. This self-praise stinks.
I think we are among the most abused people when it comes to fuel pricing.
Just watch for this video on YouTube…this midget Copper Charity Katanga talking about suspects turning into birdmen and Cats…these are senior officers that are going to reform ZP according to our dull President Lazy Lungu ..really laughable.
“Charity Katanga, the embarrassment of the Zambian Police; the case of gassing and phantom cats”
.youtube.com/watch?v=taScT-R_uW8
What KPIs do U use?
Who has given them this pass mark? Is it the people they serve or they hv marked their own exam sheets?
This is another organization which is pointless and a drain on resources since they are just a rubber stamp of government so they don’t really have any serious job to do.
Of wishes were horses….
I still don’t understand this nonsense.