Chakwera’s economic fallout: fuel prices, electricity tariff up

LILONGWE-(MaraviPost)-Following 44% of Malawi Kwacha devaluation, President Lazarus Chakwera’s Tonse Alliance government has no clue how to contain basic needs prices that fuel and electricity tariffs are up.

On Thursday night, November 9, 2023, the Malawi Energy Regulatory Authority (MERA) hiked fuel prices and electricity tariffs by more than 44 percent

MERA board chairperson Reckford Kampanje signed the statement that the price of Petrol has been raised from MK1,746 to K2530 per litre while Diesel which was at K1920 is now at MK2734 per litre.

The price of paraffin has also been increased from K1261 to K1910 per litre.

MERA has also increased average electricity tariffs from MK123.26 per kilowatt-hour (kWh) to MK173.70/kWh effective 10 November 2023.

In August 2023, MERA approved and granted the Electricity Supply Corporation of Malawi a 50.8% base tariff increase from 2023 to 2027. The first-year tranche of 18% which became effective on 1 September 2023 moved the average tariff from K104.46/kWh to K123.26/kWh.

According to MERA, the second electricity tariff increase in three months was necessary because of the adjustment in the exchange rate by the Reserve Bank of Malawi (RBM)

Meanwhile, prices of various basic goods and services have also gone up including public transport.

President Chakwera continues with global trotting while Malawians are grappling with a harsh economic environment.

Currently, Chakwera is in Saudi Arabia for his 43rd foreign trip without any impact on locals.

Lloyd M’bwana

I’m a Lilongwe University of Agriculture and Natural Resource (LUANAR)’s Environmental Science graduate (Malawi) and UK’s ICM Journalism and Media studies scholar. Also University of Malawi (UNIMA) Library Science Scholar. I have been The Malawi Country Manager and duty editor for the Maravi Post since 2019. My duty editor’s job is to ensure that the news is covered properly, that it is delivered on time, and that it is created to the standards set out in the editorial guidelines of the Maravi Post.