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The Malawi Energy Regulatory Authority (MERA) has warned of a possible fuel price hike in the coming few days.
It follows an assessment report by the Energy Regulator on movements of the economic fundamentals that determine the price of fuel locally.
The MERA report is showing that recent increase on landed cost of fuel is beyond the recommended minimum of 5 % trigger band.
The country is following the Automatic Pricing Mechanism, which responds to price changes on the international market.
Meanwhile, the MERA board is expected to hold a review meeting to decide on whether or not they should adjust the fuel prices and the rate of adjusting the prices.
GANDA: ACB should investigate NOCMA
Member of Parliament for Nsanje Lalanje who is also Chairperson of Budget and Finance Committee of Parliament Gladys Ganda on Thursday May 27 cautioned fellow Members of Parliament (MPs) on why Lake Oil Company should be awarded a contract to supply fuel to Malawi.
Ganda who once served as Deputy Chief Executive Officer for NOCMA before joining active politics differed with all other MPs on the motion to adopt a NOCMA report which is accommodating Lake Oil Company of Tanzania which Ganda said it is battling bankruptcy for failing to settle debts of over thirty million United States dollars.
Parliament on Thursday, May 27, 2021 adopted a ‘Special Report of the Parliamentary Committee on Natural Resources and Climate Change on the Process of Procuring Fuel by National Oil Company of Malawi (NOCMA) and the Role of Malawi Energy Regulatory Authority (MERA),’ which was presented by the committee’s Chair, Welani Chilenga.
There have been disagreements between the Malawi Energy Regulatory Authority (MERA) and National Oil Company of Malawi (NOCMA) over the award of fuel contracts to two suppliers by NOCMA, with the former claiming procedures had been flouted.
Ganda speaking to members of the press at Parliament on Thursday after the fuel report presentation and adoption
“We have in the pipeline a plan to increase electricity generation and supply in the country in the short to medium term.”
Spurred by incessant intermittent power-cuts and sporadic black-outs, Malawi Government is geared to increase energy generation capacity in the country in an ambitious and mind-blowing plan and has embarked on working towards adding a staggering 1,000 megawatts of electricity to the national grid within the next four years, President Lazarus Chakwera has announced.
President Chakwera made the remarks, which is sweet music to all Malawians who for so long have suffered a continued stroke of bad electricity management systems on Wednesday in Parliament when he was answering questions to Members of Parliament.