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USA WANTS ELECTRICITY TARIFFS ATTRACTIVE TO INVESTORS

United States of America (USA) Ambassador Virginia Palmer, whose government is financing the $350.7 million Malawi Compact, has reiterated on the need for Malawi to have a cost reflective tariff which it says would be key to attract investors in the power sector. According to Palmer, the delays in implementing needed tariff adjustments over the past year jeopardize U.S Government investments to modernize the power grid. She also said such delays threaten other energy sector reforms and limit Malawi’s availability to expand access to electricity. She was speaking during the seventh Semi-Annual Review Forum in Lilongwe on October 4, 2017, organized by MCA-Malawi. “I trust that you can put the cost-reflective tariff initiative on the correct path. In doing so, the achievements, reforms and institutional improvements of ESCOM, EGENCO, MERA and the Ministry [of Natural Resources, Energy and Mining] will assure the sustainability of the U.S Government’s investments and those of other donor in power and will benefit millions of Malawians for decades,” said Palmer.